2001 - WAEC Economics Past Questions and Answers - page 2

Performance of one task in a production process is known as

The cost incurred by using both fixed and variable factors in production is called

Consumer buy more of a commodity at a lower price than at a higher price because

The demand for a commodity not directly for immediate consumption but for the production of another commodity is

Which of the following is a luxury item?

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?

The responsiveness of demand to a change in income is the measurement of

The upward slope of the supply curve indicates that

monocultural agriculture means

Industries are not sited in most rural areas of Nigeria because ?