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Economics Past Questions

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1736
In production, factory buildings are regarded as
  • A. Variable cost
  • B. Average costs
  • C. Marginal costs
  • D. Total cost
  • E. Fixed costs
View Answer & Discuss WAEC 1996
1737
The Ownership of a Public Limited Company is made up of
  • A. Two to twenty persons
  • B. A minimum of seven shareholders
  • C. A minimum of fifty and maximum of one hundred shareholders
  • D. Two to fifty shareholders
  • E. A maximum of fifty shareholders
View Answer & Discuss WAEC 1996
1738
All the following are the economic reasons for establishing public enterprises except the provision of ,
  • A. An avenue for expressing national prestige
  • B. Services at a cheaper cost
  • C. Socially necessary facilities
  • D. Services which are natural monopolies
  • E. Employment opportunities
View Answer & Discuss WAEC 1996
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1739
The unemployment associated with decrease in demand is referred to as
  • A. Disguised
  • B. Imposed
  • C. Cyclical
  • D. Voluntary
  • E. Functional
View Answer & Discuss WAEC 1996
1740
Monopoly can best be described as a market in which
  • A. A single seller sells a product which has no close substitute
  • B. Few sellers sell a product s at different prices
  • C. The entry of other firms is restricted by the few firms in the market
  • D. Two or more sellers sell a product which is differentiated
  • E. a single buyer buys a product which has no close substitutes
View Answer & Discuss WAEC 1996
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