WAEC Economics 2011 Objective — Question 1
Question 1 of 50 from the West African Examinations Council (WAEC) Economics 2011 Objective paper, with the correct answer and a full explanation.
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The following are examples of economic goods except
- A. A. bottled water
- B. B. airCorrect
- C. C. household utensils
- D. D. shelter
Explanation
Economic goods are scarce and therefore command prices. Air is not scarce and does not command a price, so it is not an economic good.
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