Economics 2017 Waec Past Questions and Answers

Question 21 :

• WAEC 2017

The amount of money that a firm recieves from the sales of its output is called

A. Total profit
B. Total revenue
C. Total cost
D. Average revenue

Question 22 :

• WAEC 2017

which of the following is trueof the monopolist

A. His average revenue curve is horizontal
B. He determines both price and output
C. His demand and marginal revenue curve are the same
D. He determines either price or output

Question 23 :

• WAEC 2017

Equity shares form the bulk of the capital of a?

A. Private firm
B. Public company
C. Statutory company
D. Limited partnership

Question 24 :

• WAEC 2017

if a state owned firm is sold through the stock market, the organisation becomes?

A. Partnership
B. Private company
C. Public limited company
D. Public corporation

Question 25 :

• WAEC 2017

The total number of people of working age who are willing and prepared to work at a given wage rate is the

A. Labour force
B. Supply of labour
C. Demand of labour
D. Occupational demand for labour