Economics WAEC Past Questions

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751

which of the following tool of economic analysis is used when data contains more than one category?

A. Bar charts
B. component bar charts
C. Graphs
D. Symbolical sratement

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752

The reward to capital as a factor of production is

A. rent
B. wage
C. interest
D. commission

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753

mining is an example of

A. tertiary production
B. primary production
C. secondary production
D. advanced production

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754

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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755

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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