WAEC Economics 2021 Objective — Question 6
Question 6 of 50 from the West African Examinations Council (WAEC) Economics 2021 Objective paper, with the correct answer and a full explanation.
Advertisement
6. An increase in rice harvest, all things being equal, may cause
- A. price to increase substantially.
- B. price to fall substantially.Correct
- C. demand to fall substantially.
- D. farmer's incomes to be more than doubled.
Explanation
A bumper harvest increases supply; with demand unchanged, the excess supply drives the price down substantially.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.