Waec Economics 1993 Past Questions and Answers

Question 16:

• WAEC 1993

which of the following business establishment are not motivated mainly by profit?

A. Public Limited Companies
B. Private Limited Companies
C. Holding companies
D. Patnershps
E. Co-operatives

Question 17:

• WAEC 1993

Production is not complete until the

A. Goods gets to the wholesaler
B. Goods reached the final consumer
C. Factors of production are combined
D. Goods are ready for transportation
E. Wholesalers ask the firms to produce

Question 18:

• WAEC 1993

which of the following is the correct way to calculate total cost?

A. Addition of fixed cost to variable cost
B. Division of total cost by total output
C. Multiplication of fixed cost by the variable cost
D. Subtraction of fixed cost from total cost
E. Addition of marginal cost to average cost

Question 19:

• WAEC 1993

Robert T. Malthus postulated in his population theory that

A. The death rate may become so high that people may not survive
B. People will eventually stop having children
C. People will migrate from one place to another in search of food
D. Posititve efforts should be made to increase population
E. Population growth rate may out-grow the means of subsistence

Question 20:

• WAEC 1993

Division of labour may be restricted when

A. An ailing economy has improved
B. Producers live in villages
C. Market is small
D. There is full employment
E. There is inflation