WAEC SSCE - Economics - 2016 (Objective)

A bank note is said to be a legal tender because it is

Price elasticity of demand or supply measures how responsive

In a partnership, the conduct of members is guided by

An entrepreneur is encouraged to adopt division of labour in production because it

When a number of countries agree to remove all trade barriers among themselves and at the same time charge a common tariff against non member countries, it known as

At which stage of production should a firm shut down? when

Cost push inflation is likely to arise when

The type of unemployment that occurs as a result physical or mental disability of labour is known as

Which of the following international organizations is concerned with the stabilization of the balance of payments? the

What effect will an increase in price have on the total revenue of a firm whose product has inelastic demand? total revenue will

Which of the following measures will hinder efficient distribution of goods in West Africa

International income accounting, double counting occurs when

Fiscal policy that can control inflation will include the use of

Which of the following best explains why more foreign investments are not attracted to West Africa

One of the physical measures that can be used to reduce the volume of imports is the

One feature of a growing population

How does producers expectation of a price fall affect the supply curve of a product? There will be

One relationship between marginal utility and total utility. When total is 

Which is following is a cause of under-development in West Africa

The demand curve for neccessity is usually

Indigenization policy is a measure aimed at

The long run is a period when

Indirect taxes are generally

A price floor results in

During Inflation, interest rate will

Which of the following will encourage capital intensive farming

The demand for torch and batteries is an example of

The stock market is a market for

The rate at which a country's export is exchanged for her imports is

The difference between GDP and GNP

The principle of comparative cost advantage was propounded by

Location of firm in rural areas may

Efficiency of labour in a country is determined by the following factor except the

Charging different prices for the same commodity is a feature of a

The difference between GDP and GNP

Which of the following is not a major problem of development

Which of the following items is not included in the measurement of the national income using the income approach

Which of the following financial institutions cannot be found on the capital market of a country

Balance of payment surplus implies that receipts for exports are