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Economics

Economics · Quick practice · answer shown after each question

Economics quick practice

Question 1 of 10

Question 1 of 10

Which of the following is an example of a free good?

Question 2 of 10

Question 2 of 10

Income rises by 10% and demand for a good falls by 5%. The good is

Question 3 of 10

Question 3 of 10

Microeconomics studies

Question 4 of 10

Question 4 of 10

Real GDP is nominal GDP adjusted for

Question 5 of 10

Question 5 of 10

Goods that are free in supply and have no price, such as air, are

Question 6 of 10

Question 6 of 10

A concave PPC shows

Question 7 of 10

Question 7 of 10

If the price of tea rises and the demand for coffee increases, tea and coffee are

Question 8 of 10

Question 8 of 10

Devaluation of a currency makes exports

Question 9 of 10

Question 9 of 10

A current account deficit can be financed by

Question 10 of 10

Question 10 of 10

A rise in the price of tea leads to a rise in demand for coffee. The cross elasticity is

Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.