WAEC Economics Past Questions & Answers - Page 225

1,121.

The reward for capital is

A.

Interest

B.

Rent

C.

Risk premium

D.

Premium

Correct answer is A

No explanation has been provided for this answer.

1,122.

When a pen and a book is demanded together, the demand is said to be

A.

Composite

B.

Competitive

C.

Joint

D.

Derived

Correct answer is C

No explanation has been provided for this answer.

1,123.

Which of the following is an indirect tax?

A.

Income tax

B.

Company tax

C.

Profit tax

D.

Sales tax

Correct answer is D

No explanation has been provided for this answer.

1,124.

The quantity demanded of a commodity is influenced only by changes in 

A.

Tastes

B.

Weather

C.

Price of the commodity

D.

Price of other commodity

Correct answer is C

No explanation has been provided for this answer.

1,125.

Which of the following combination of qualities ensures a good tax system?

A.

Deflationary equity, certainty and convinience

B.

Economy convinience, certainty and equity

C.

Economy, deflationary, inflationary and certainty

D.

Economy, convinience, certainty and inflationary

Correct answer is B

No explanation has been provided for this answer.