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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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1641
Capital as a factor of production is important because
  • A. it enables us to carry out task which can not be done by human effort only
  • B. most tasks can be done with bare hands
  • C. people can work without capital
  • D. without capital all the factors are useless
  • E. it provides money which is essnetial for the growth of business
View Answer & Discuss (2) WAEC 1993
1642
A firm's compulsory cost whether it is in production or not , is referred to as its
  • A. prime cost
  • B. variable cost
  • C. marginal cost
  • D. fixed cost
  • E. average cost
View Answer & Discuss WAEC 1993
1643
A scale of preference is a list
  • A. of consumer's wants arrange in order of importance
  • B. thaqt helps the individual to make rational choice
  • C. that enables the consumer to make a wise decision about his choice
  • D. that is necessary because human beigns are faced with competitive wants
  • E. os all satisfied wants arrange in order of magnitude
View Answer & Discuss WAEC 1993
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1644
An economic system in which the state owns and controls the means of production is known as
  • A. free enterprise
  • B. socialist economy
  • C. mixed economy
  • D. capitalist economy
  • E. welafare company
View Answer & Discuss WAEC 1993
1645
Which of the following is not a middleman in the distribution channel? The
  • A. wholesaler
  • B. distributor
  • C. agent
  • D. cosumer
  • E. retailer
View Answer & Discuss (1) WAEC 1993
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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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