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Economics Past Questions

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1501
Industry can simply be defined as
  • A. Many firms producing different products
  • B. A firm or firms producing similar goods and services
  • C. Different firms producing different goods
  • D. Different firms producing equal number of similar goods and services
  • E. Many firms producing unidentical goods and services
View Answer & Discuss WAEC 1989
1502
The reward of a debenture holder of a public company is a fixed rate of
  • A. Interest
  • B. Return
  • C. Dividend
  • D. Rent
  • E. Allowance
View Answer & Discuss WAEC 1989
1503
The downward sloping of the Average Revenue curve of the monopolist indicates that he
  • A. Can control both output and price
  • B. Can only break-even
  • C. Can control either the output or the price, but not both
  • D. Can’t control anything
  • E. Exploit the consumer
View Answer & Discuss WAEC 1989
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1504
which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the Organization of Petroleum Exporting Countries (OPEC)? The
  • A. US dollar
  • B. Japanese Yen
  • C. Pound Sterling
  • D. Deutschemark
  • E. Naira
View Answer & Discuss WAEC 1989
1505
Economics can be best defined as the study of
  • A. how to spend the family income efficiently
  • B. how to find minimum cost of production
  • C. the interpretation of scarce resourceand date
  • D. how scarce resource can be used efficiently
  • E. why resource are scarce
View Answer & Discuss WAEC 1990
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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