WAEC (WASSCE) Economics · Demand, supply and prices
Theory of consumer behaviour: WAEC Economics Past Questions and Answers
What the WAEC syllabus covers in Theory of consumer behaviour
Our summary: Measuring satisfaction with utility and finding the point where a consumer is in equilibrium.
- The utility concepts – total utility, average utility, marginal utility and the calculation of utility schedules
- The law of diminishing marginal utility
- Relationship between total utility, average utility and marginal utility
- The concept of equilibrium of a consumer
- Determination of consumer equilibrium
- The effects of changes in price on consumer equilibrium
- The relationship between marginal utility and the demand curve
Syllabus content © The West African Examinations Council (WASSCE (harmonised West African syllabus)).
WAEC (WASSCE) Economics questions on Theory of consumer behaviour
- WAEC 2024The negative slope of the demand curve is best explained by
- WAEC 2023When the marginal utility from the consumption of commodity X (Mux) is greater than the price commodity X (Px), a rational consumer should
- WAEC 2020A consumer is in equilibrium when
- WAEC 2020Goods that are abundant in supply usually have low
- WAEC 2018if the marginal utility of a commodity is equal to its price then
- WAEC 2017a rational consumer will purchase a product whose price is?
- WAEC 2016One relationship between marginal utility and total utility. When total is
- WAEC 2015In order to calculate total utility (TU) from given levels of marginal utility (MU), one has to?
Years with Theory of consumer behaviour questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2024
- 2023
- 2020
- 2018
- 2017
- 2016
- 2015