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Economics 2009 WAEC Past Questions

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21
who among the following is the intermediary between the producer and the retailer?
  • A. agent
  • B. wholesaler
  • C. consumer
  • D. distributor
View Answer & Discuss (1) WAEC 2009
22
which of the following sector is most capital intensive?
  • A. insurance
  • B. petroleum
  • C. commerce
  • D. tourism
View Answer & Discuss WAEC 2009
23
A society that operates below the production possibility curve is using its productive resources
  • A. optimally
  • B. efficiently
  • C. inefficiently
  • D. maximally
View Answer & Discuss WAEC 2009
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24
labour can be efficient when there are
  • A. adequate tools to work with
  • B. high level of employment
  • C. limited vacancies
  • D. government restrictions
View Answer & Discuss (1) WAEC 2009
25
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
  • A. the law of variable proportions
  • B. increasing returns to scale
  • C. decreasing use of inputs
  • D. change output during the production period
View Answer & Discuss WAEC 2009
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