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Economics 1989 WAEC Past Questions

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11
What is the correct term for this group of exports : tractor, televisions, components, drugs and cars?
  • A. Current account items
  • B. Visible exports
  • C. Capital accoutn items
  • D. Invisible exports
  • E. Visible imports
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12
the indicator of the value of money in the market is the
  • A. the general price level
  • B. effective supply
  • C. the equilibrium price
  • D. effective demand
  • E. consumer income
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13
Mobility of labour is not affected by
  • A. the optimum size of population
  • B. marriage and family
  • C. the regulation of trade unions
  • D. the period of training
  • E. culture and religious beliefs
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14
Given that fixed cost is N500.00, variable cost N1,500.00 and output is 50 units, what will be the average cost of producing one unit?
  • A. N2,000.00
  • B. N60.00
  • C. N50.00
  • D. N40.00
  • E. N30.00
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15
Which of the following is regarded as fixed cost?
  • A. cost of raw material
  • B. cost of fuel
  • C. cost of light
  • D. rent on land
  • E. labour wages
View Answer & Discuss WAEC 1989
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