2000 - WAEC Economics Past Questions and Answers - page 3
21
Net migration is the difference between
A
population and census
B
immigrants and emigrants
C
per capita income and population
D
internal and external migration
correct option: b
Users' Answers & Comments22
Wages are to some extent, determined by the
A
Marginal utility of labour
B
average utility of labour
C
marginal productivity of labour
D
total output of labour
correct option: c
Users' Answers & Comments23
The movement along the same curve is a
A
change in demand
B
change in quantity demanded
C
shift in demand
D
market demand
correct option: b
Users' Answers & Comments24
An industry can best be described as
A
a place where goods are processed
B
a place where different firms produced different goods
C
an aggregation of indidvidual firms producing similar commodities
D
the concentration of various firm in the same locality
correct option: c
Users' Answers & Comments25
An association of workers in a particular industry, firm or line of job is called
A
Trade union
B
Trade association
C
Chamber of commerce
D
Assembly of workers
correct option: a
Users' Answers & Comments26
Average Variable Cost (AVC) curve
A
is U-shaped
B
rises from left to right
C
Slopes upwards
D
is horizontal to the X-axis
correct option: a
Users' Answers & Comments27
The income elasticity of a normal goods is
A
positive
B
negative
C
zero
D
fixed
correct option: a
Users' Answers & Comments28
The demand for a commodity that serves two or more purposes is
A
competitive demand
B
complemetary demand
C
composite demand
D
derived demand
correct option: c
Users' Answers & Comments29
The charging of different prices to different group of buyers for the same goods or services is called
A
monopolistic competition
B
price determination
C
price discrimination
D
monopoly
correct option: c
Users' Answers & Comments30
A tax on a commodity whose demand is perfectly inelastic will fall heavily on the
A
consumer
B
manufacturer
C
wholesaler
D
retailer
correct option: a
Users' Answers & Comments