Waec Economics 2000 Past Questions and Answers

Question 11:

• WAEC 2000

Dividing total variable cost by quantity of output gives

A. Total cost (TC)
B. Total Fixed Cost (TFC)
C. Variable cost (VC)
D. Average Variable Cost (AVC)

Question 12:

• WAEC 2000

Public enterprises are established mainly to

A. Provide basic amenities for the people
B. Make goods available in the market
C. Make profit for the government
D. Compete with foreigners in the industrial sector

Question 13:

• WAEC 2000

One important feature of sole proprietorship is that

A. It is limited liability business
B. The business is owned by shareholders
C. One person bears all the risks
D. It is a legal entity

Question 14:

• WAEC 2000

The maximum amount of money a company is allowed to raise by issuing shares to the public is called

A. Paid-up capital
B. Fixed capital
C. Working capital
D. Authorized capital

Question 15:

• WAEC 2000

The consumers co-operative society is owned by

A. A management committee
B. Members of the society
C. Debenture holders
D. The government