Waec Economics 2010 Past Questions and Answers

Question 21:

• WAEC 2010

Which of the following is obtainable in a perfect market?

A. P = MR > AR
B. MP = MC > P
C. MR < P
D. P = MR = MC

Question 22:

• WAEC 2010

The wholesaler performs the following function except

A. Breaking the bulk
B. Offering credit facilities to the consumers
C. Financing manufacturers
D. Buying in bulk from manufacturers

Question 23:

• WAEC 2010

A country whose population size is too small relative to its resource is

A. Over populated
B. Optimally populated
C. Under populated
D. Producing the optimum output

Question 24:

• WAEC 2010

An efficient weapon used in resolving dispute between employers and employees is

A. Co-operation
B. Collective bargaining
C. Display of placards
D. Legal action

Question 25:

• WAEC 2010

Which of the following does not explain why a school principal earns more salary than a school messenger?

A. Lenght of training
B. Demand and supply
C. Cost of training
D. The messenger is a non-teaching staff