Economics 2006 WAEC Past Questions

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An owner-manager of a firm can also be called

A. a shareholder
B. an entrepreneur
C. an employer
D. a chairman

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If the fixed cost of a firm is 800.00 Naira and it's variable cost is 2,700 Naira while it's total output is 100 units, what is the average cost of the firm?

A. 25 Naira
B. 35 Naira
C. 45 Naira
D. 50 Naira

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Distribution of goods and service is hindered by

A. good road network
B. efficient storage facilities
C. too many middlemen
D. adequate market information

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A movement along the same demand curve either upwards or downwards as a result of change in price implies

A. a chnage in demand
B. a change in quantity demanded
C. an increase in demand
D. a shift in the demand curve to the right

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middlemen in an economy perform the function of

A. distribution
B. exchange
C. Hoarding
D. protector

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Economics 2006 WAEC Past Questions

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