WAEC Economics questions: The labour market

15 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· The labour market· WAEC

   Disguised unemployment exists when

   • Aworkers are between jobs
   • Bmore workers are employed than are needed, so some add nothing to output
   • Cpeople refuse to work
   • Dthere is no work in a season

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2. Question 2· The labour market· WAEC

   The demand for labour is a derived demand because labour is wanted

   • Afor its own sake
   • Bfor the goods and services it helps to produce
   • Cby the government only
   • Donly during harvest

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3. Question 3· The labour market· WAEC

   A trade union may raise its members' wages through

   • Aincreasing the supply of labour
   • Breducing productivity
   • Ccollective bargaining
   • Dlowering the demand for labour

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4. Question 4· The labour market· WAEC

   Farm labourers who are idle during the dry season experience

   • Aseasonal unemployment
   • Bstructural unemployment
   • Cdisguised unemployment only
   • Dcyclical unemployment

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5. Question 5· The labour market· WAEC

   Frictional unemployment occurs when

   • Ademand falls in recession
   • Bworkers are between jobs
   • Cmachines replace workers
   • Dseasons change

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6. Question 6· The labour market· WAEC

   Unemployment that occurs because workers lack the skills needed for available jobs is

   • Astructural unemployment
   • Bseasonal unemployment
   • Cfrictional unemployment
   • Dcyclical unemployment

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7. Question 7· The labour market· WAEC

   Collective bargaining is negotiation between

   • Agovernment and foreign countries
   • Bbuyers and sellers in a market
   • Cemployers and trade unions over pay and conditions
   • Dbanks and borrowers

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8. Question 8· The labour market· WAEC

   A factory sends its workers on regular training courses. This mainly raises the

   • Asupply of land
   • Befficiency of labour
   • Cprice of output
   • Drate of interest

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9. Question 9· The labour market· WAEC

   A trade union mainly aims to

   • Apay taxes for workers
   • Bfix the prices of goods
   • Clend money to firms
   • Dimprove the wages and working conditions of its members

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10. Question 10· The labour market· WAEC

    Disguised unemployment is common in

    • Amanufacturing
    • Bbanking
    • Csubsistence agriculture
    • Doil drilling

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11. Question 11· The labour market· WAEC

    If the government fixes a minimum wage above the market wage, the likely result is

    • Aa fall in wages
    • Ba shortage of labour
    • Cno change in employment
    • Da surplus of labour (unemployment)

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12. Question 12· The labour market· WAEC

    The efficiency of labour can be improved by

    • Areducing wages
    • Btraining and education
    • Clonger hours without rest
    • Dremoving tools

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    Explanation and discussion

13. Question 13· The labour market· WAEC

    Mobility of labour refers to

    • Athe number of workers
    • Bthe ease with which workers change jobs or places
    • Cthe wage rate
    • Dtrade union membership

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14. Question 14· The labour market· WAEC

    Trade unions try to raise wages through

    • Acollective bargaining
    • Bprice control
    • Cprinting money
    • Dexporting goods

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15. Question 15· The labour market· WAEC

    Unemployment caused by a fall in demand in the economy as a whole is

    • Africtional unemployment
    • Bvoluntary unemployment
    • Cseasonal unemployment
    • Dcyclical unemployment

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    Explanation and discussion