Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
The situation in which there is persistent fall in the general price level is referred to as
Adevaluation
Bdepreciation
Cdeflation
Dinflation
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Question 592
waec2001
which of the following is the most liquid asset?
ABank notes
BSilver
CBank deposit
Dcheques
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Question 593
waec2001
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about
Aa geometrical fall in prices
Ba proportionate fall in prices
Ca rise in prices
Dan unequal fall in prices
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Question 594
waec2001
Money is demanded for which of the following reasons?
Ato meet unforseen contigencies
Bto solve the problem of inflation
Cit is easily divisible
Dit is portable
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Question 595
waec2001
One of the function of money is
Adouble coincidence of wants
Bunit of accounts
Cindivisibility
Dmaking payment through banks only
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Question 596
waec2001
In a public corporation , the risks of business are borne by the
Aworkers
Btax payers
Cboard members
Dtreasury
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Question 597
waec2001
The reward for a shareholdership of a company is
Awages
Binterest
Cdividends
Dprofit
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Question 598
waec2001
Which of the following is not a condition for a perfect market?
Ahomogenous commodity
Bignorance of consumers
Cperfect information
Dfree entry and exit
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Question 599
waec2001
The monopolist power can be controlled by the government through
Alabour union
Bprice legislation
Cimport restrictions
Dexport promotion
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Question 600
waec2001
which of the following is not a trade union in Nigeria?
ANigerian Labour Congress
BAcademic Staff Union of Universities
CNigerian Ecoonomic Society
DNigerian Union of Journalists
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Question 601
waec2001
When the government initiates measures to make an organization in which it has substantial interest more profit oriented, such a business is described as being
Aindigenized
Brestructured
Cprivatized
Dcommercialized
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Question 602
waec2001
Which of the following business units can issue shares?
ASole trader
Bprivate limited companies
CCentral Banks
DSuper market
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Question 603
waec2001
Industries are not sited in most rural areas of Nigeria because ?
Aof inadequate basic infrastructure
Bthey lack raw materials
Cthere is no appropriate government policy
Dthe climate is not conducive
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Question 604
waec2001
monocultural agriculture means
Athe cultivation of seasonal crops
Bthe cultivation of one major crop
Cplantation agriculture
Dshifting cultivation
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Question 605
waec2001
The upward slope of the supply curve indicates that
Amore will be supplied as price rises
Bless will be supplied as price rises
Csupply is not a function of price
Dsupply is static and demand is dynamic
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Question 606
waec2001
The responsiveness of demand to a change in income is the measurement of
Aforeign exchange rate
Bcross elasticity of demand
Cincome elasticity of demand
Dprice index elasticity
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Question 607
waec2001
If the quantity demanded of a particular commodity is represented by the function Qd = 30 - 2p, what is the quantity demanded at a price of twelve Naira?
A6 units
B8 units
C10 units
D12 units
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Question 608
waec2001
Which of the following is a luxury item?
APetrol
BTextbook
CPencil
DGold
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Question 609
waec2001
The demand for a commodity not directly for immediate consumption but for the production of another commodity is
Acompetitive demand
Bderived demand
Ccomposite demand
Djoint demand
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Question 610
waec2001
Consumer buy more of a commodity at a lower price than at a higher price because
Aproductions like to produce more
Bin a given situation people like to buy more
Cconsumers like to show off
Dwith the same amount of money they will be able to buy more
