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Economics 1996 WAEC Past Questions

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11
Rents and interest are rewards to
  • A. Labour and capital respectively
  • B. Land only
  • C. Capital only
  • D. Labour and land respectively
  • E. Land and capital respectively
View Answer & Discuss WAEC 1996
12
The process that leads to an agreement on the condition of service between employer and employee is termed
  • A. Salary negotiation
  • B. Arbitration
  • C. Collective bargaining
  • D. Conciliation
  • E. Reconciliation
View Answer & Discuss WAEC 1996
13
Diminishing return occurs in short run when there is a reduction in the
  • A. Average product of the fixed factor
  • B. Total product of the variable factor
  • C. Total product of the fixed factor
  • D. Marginal product of the variable factor
  • E. Marginal product of the fixed factor
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14
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
15
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
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