Waec Economics 2007 Past Questions and Answers

Question 6:

• WAEC 2007

one characteristics of labour is that it is

A. Fixed in demand
B. Fixed in supply
C. Mobile
D. Untrainable

Question 7:

• WAEC 2007

a country where labour is not sufficient to make proper use of natural resources is said to have an

A. Active population
B. Optimum population
C. Over-population
D. Under-population

Question 8:

• WAEC 2007

When population is classified according to professions, it is called

A. Geographical distribution of population
B. Age distribution of population
C. Sex distribution of population
D. Occupational distribution of population

Question 9:

• WAEC 2007

What must be added to variable cost to give total cost?

A. Average total cost
B. Average variable cost
C. Fixed cost
D. Marginal cost

Question 10:

• WAEC 2007

Revenue is the

A. Total profit made after sales
B. Amount spent on purchase
C. Amount of goods produced
D. Total money realized from sales