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1976

Resources are pooled for the mutual benefit of its members mainly in a

  • A. cooperative society
  • B. joint stock company
  • C. private company
  • D. partnership
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1977

The total fixed cost curve is

  • A. horizontal
  • B. upward sloping
  • C. vertical
  • D. downward sloping
View Answer & Discuss (6) WAEC 2023
1978

A small scale firm located within an industrial estate will enjoy

  • A. government protection and funding
  • B. technological economies of scale
  • C. financial economies of scale
  • D. external economies of scale
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1979

Country M enjoys absolute advantage over country N in the production of commodities X and Y, if country M

  • A. is inefficient in the production of both commodities X and Y
  • B. is more efficient than country N in producing both commodities X and Y
  • C. can produce only commodity Y cheaper than country N
  • D. and country N are efficient in the production of both goods
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1980

Commericial banks help in economic development mainly by

  • A. acting as trustees and executors of wills
  • B. acting as intermediaries between government and borowers
  • C. serving as custodians of valuables
  • D. giving financial advice to the government
View Answer & Discuss (1) WAEC 2023
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