Waec Economics 2005 Past Questions and Answers

Question 6:

• WAEC 2005

The remuneration of the entrepreneur as a factor of production is called

A. Wages
B. Salary
C. Interest
D. Profit

Question 7:

• WAEC 2005

The production factor, whose entire world supply is fixed is

A. Land
B. Skilled labour
C. Capital goods
D. Entrepreneur

Question 8:

• WAEC 2005

when all factors input are reduced by half, the production possibility curve will shift

A. Outwards
B. Inwards
C. Downwards
D. Upwards

Question 9:

• WAEC 2005

when a worker changes from one tye of job to another, it is called

A. Geographical mobility of labour
B. Occupational mobility of labour
C. Immobility of labour
D. Rural-urban migration

Question 10:

• WAEC 2005

which of the following determines the size of a country's population ? (I) Birth rate (II) Death rate (III) Migration rate (IV) Importation rate (V) Unemployment rate

A. (I), (II) and (V)
B. (II) and (IV)
C. (I),(II) and (III)
D. (IU) and (V)