Waec Economics 2019 Past Questions and Answers

Question 31:

• WAEC 2019

In perfect competition, the average revenue curve of a firm is

A. Below the marginal revenue curve
B. Downward sloping
C. The marginal revenue curve
D. Convex to the origin

Question 32:

• WAEC 2019

Which of the following means of funding a business is very reliable and cheap?

A. Bank loans
B. Loans from friends
C. Plough back profits
D. Debentures

Question 33:

• WAEC 2019

Govermment in most cases influences the location of firms to

A. Discourage private investors
B. Ensure equitable distribution
C. Reduce the cost of production
D. Make the firms enjoy economies of scale

Question 34:

• WAEC 2019

Middlemen are made up of _____________

A. Manufacturers, wholesalers, and consumers
B. Manufacturers, wholesalers, and retailers
C. Wholesalers, retailers and hawkers
D. Wholesalers, retailers, and consumers

Question 35:

• WAEC 2019

Malthusian theory of population was proved wrong because

A. The practice of subsistence farming was encouragedMalthus view was seen as an exaggeration
B. Developing countries adopted birth control method
C. New lands and new methods of production were discovered