NECO Economics · Demand, supply and prices
Demand: NECO Economics Past Questions and Answers
What the WAEC syllabus covers in Demand
Our summary: What decides how much people want to buy, how demand curves behave and how to measure elasticity of demand.
- Concept of demand and law of demand, the demand schedules and curve, reasons for exceptional demand curves
- Types of demand (derived, composite, joint and competitive)
- Factors determining demand for goods and services – price of the commodity, prices of other commodities, income, tastes, price expectation, etc.
- Distinction between a shift of and movement along a demand curve
- Concept of elasticity of demand
- Types of elasticity of demand and their measurement – price, income and cross elasticities of demand
- Importance of the concept of elasticity of demand to consumers, producers and government
Syllabus content © The West African Examinations Council (WASSCE (harmonised West African syllabus)). NECO questions are matched to the WAEC syllabus topic.
NECO Economics questions on Demand
- NECO 2009The demand for salt is …
- NECO 2009Which of these factors causes a change in the quantity demanded of a commodity?
- NECO 2005The demand for factors of production is said to be
- NECO 2005When an increase in the price of a commodity lead to a fall In the demand for aNOTher, the demand for the two commodities are said to be
- NECO 2005In the equation Q = a - bp + e; Q and P are … Variables respectively.
- NECO 2004When Elasticity of Demand is greater than one, the demand is
- NECO 2004When a change in the demand for commodity A leads to a change in demand for commodity B in the same direction, demand for A B is
- NECO 2003Using functional relationship in economics QX = f (px, po, y, T); po stand for
- NECO 2003A shift of the demand curve leftward from its original position indicate
- NECO 2002The willingness of an individual backed up with purchasing power at a given time is
- NECO 2002Which of the following is NOT a factor that brings about changes in demand?
- NECO 2002If commodities A B are jointly demanded, what will be the effect of an increase in the price of A on the demand for commodity B?
- NECO 2002If the consumer demand for product X increases, as the demand for product, Y increases then the goods X and Y are
- NECO 2002The demand for labour in an economy is a depiction of
- NECO 2002If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, what is the price elasticity of demand for the…
Years with Demand questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2009
- 2005
- 2004
- 2003
- 2002