Waec Economics 2008 Past Questions and Answers

Question 16:

• WAEC 2008

The transformation curve slopes indicates that

A. Opportunity cost of producing one commodity for another
B. Opportunity cost of producing two commodities at a time
C. Sales of the plants to other investors
D. Decrease in the cost of production

Question 17:

• WAEC 2008

Which of the following is regarded as fixed cost?

A. Expenditure on raw materials
B. Expenditure on fuel
C. Expenditure on power
D. Rent on land

Question 18:

• WAEC 2008

Revenue is the

A. Cost of good multiplied by the quantity sold
B. Price of goods multiplied by the quantity sold
C. Quantity of goods plus purchase price
D. Quantity supplied less quantity sold

Question 19:

• WAEC 2008

A business outfit is said to be a public limited company when it

A. Is owned by the government
B. Operates as a public corporations
C. Is run by the public
D. Selld its shares to members of the public

Question 20:

• WAEC 2008

The main characteristics of an ordinary shares are

A. Maximum risk, fixed dividends, voting rights
B. Minimum risks, fixed dividends, no voting rights
C. Maximum risks, variable dividends, voting rights
D. Minimum risks. fixed dividends, no voting rights