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Economics WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1911

A benefit that is present in all forms of economic integration is that

  • A. common agricultural policy is in place
  • B. the size of the market is widened
  • C. factors of production are free to move and be moved
  • D. common currency is in use
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1912

The production of rice and yam on the same farmland is an example of

  • A. joint supply
  • B. composite supply
  • C. competitive supply
  • D. market supply
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1913

If the government imposes a minimum price on a commodity

  • A. market surplus occurs
  • B. the market will be cleared in the short-run
  • C. excess demand occurs
  • D. government regulation is no longer needed
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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1914

In manufacturing, division of labour may be hindered by

  • A. excessive demand for the product
  • B. low level of technology
  • C. excess supply of labour
  • D. increase in the export of goods
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1915

The production cost that varies inversely with output is the

  • A. total fixed cost
  • B. marginal cost
  • C. average fixed cost
  • D. average cost
View Answer & Discuss (1) WAEC 2022
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