Waec Economics 2006 Past Questions and Answers

Question 6:

• WAEC 2006

mining is an example of

A. Tertiary production
B. Primary production
C. Secondary production
D. Advanced production

Question 7:

• WAEC 2006

An owner-manager of a firm can also be called

A. A shareholder
B. An entrepreneur
C. An employer
D. A chairman

Question 8:

• WAEC 2006

If the fixed cost of a firm is 800.00 Naira and it's variable cost is 2,700 Naira while it's total output is 100 units, what is the average cost of the firm?

A. 25 Naira
B. 35 Naira
C. 45 Naira
D. 50 Naira

Question 9:

• WAEC 2006

Distribution of goods and service is hindered by

A. Good road network
B. Efficient storage facilities
C. Too many middlemen
D. Adequate market information

Question 10:

• WAEC 2006

A movement along the same demand curve either upwards or downwards as a result of change in price implies

A. A chnage in demand
B. A change in quantity demanded
C. An increase in demand
D. A shift in the demand curve to the right