NECO Economics · Demand, supply and prices
Theory of price determination: NECO Economics Past Questions and Answers
What the WAEC syllabus covers in Theory of price determination
Our summary: How demand and supply meet to set the equilibrium price and quantity, and what price controls do.
- The concept of the market
- Interaction between demand and supply
- Price determination under free and regulated markets
- Equilibrium price and quantity in product and factor markets
- The effects of changes in supply and demand on equilibrium prices and quantities
- Introduction to algebraic determination of equilibrium price and quantity
- Price controls: maximum and minimum price regulations – meaning and their effects; rationing, black market (parallel market)
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 Theory of price determination
- NECO 2005Which of the following is NOT associated with minimum price legislation?
- NECO 2005The following will occur when maximum price is fixed below the free market price EXCEPT that
- NECO 2005At the equilibrium price,
- NECO 2003A problem of price control is
- NECO 2003In a free market economy, wages are determined by
- NECO 2003Price legislation means
- NECO 2003Equilibrium prices is
Years with Theory of price determination questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2005
- 2003