WAEC SSCE - Economics - 2014 (Objective)

Cyclical unemployment is one associated with

A basic economic problem of any society is

If the coefficient of price elasticity of demand is 0.1, demand is

In a centrally planned economy, what to produce is

Which of the following is not a reason countries import goods?

Livestock production in West Africa is hindered mainly by

Use this above diagram to answer this question. From the table, the mean of the distribution is

Co-operative societies formed to market the output of their members are called

Provision of short-term loans to solve balance of payments problems is done by the

Examples of joint stock banks are

Which of the following measures will not encourage industrialization in West Africa?

Households make economic decisions because they want to

Which of the following best defines inflation?

The likely implication of the devaluation of a country's currency is that

Which of following is not a feature of socialism?

Which of the following functions of money is mostly affected during inflation?

Economic development may be hindered if there is

Which of the following statements is correct?

An increase in the price of a commodity from $10 to $ 15 leads to an increase in the quantity supplied from 10 units to 15 units. The price elasticity of supply is

Which of the following is not an effect of the discovery of mineral resources in an area?

Which of the following will increase the nominal value of national income?

The supply of tea is linearly presented as p = 0 . 2Q, where P is the price and Q is the quantity. What is P when Q = 25?

Money will serve as a standard of deferred payment if it is

A declining population is one in which the population is

To control inflation, the central bank of a country may adopt

A normal supply curve has a positive slope which indicates that

The concentration of many firms of a particular industry in a particular area is known as

Increase in supply due to changes in plant size will take place only in the

Human want are unlimited because

Which of the following agencies help to stabilize farmers' income?

Disposable income is the income earned

International trade is desirable because it

The long - run average cost curve is made up of several short-run

Other things being equal, an increase in supply will lead to

Use this above diagram to answer this question. What is the median of the distribution?

Precautionary motive for holding money is to

The rate of increase in utility is

Goods consumed out of habit have

The components of a three-sector economy are

A change in the quantity demanded of a given commodity is determined by the

Which of the following types of unemployment results from changes in the pattern of aggregate demand ?

Perfect knowledge of events in a perfect market will be made possible by the existence of

The profit of a producer is the difference between

A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as

Which of the following is not a characteristic of a developing country? High