Waec Economics Past Questions and Answers

Question 546:

• WAEC 2000

Dividing total variable cost by quantity of output gives

A. Total cost (TC)
B. Total Fixed Cost (TFC)
C. Variable cost (VC)
D. Average Variable Cost (AVC)

Question 547:

• WAEC 2000

Public enterprises are established mainly to

A. Provide basic amenities for the people
B. Make goods available in the market
C. Make profit for the government
D. Compete with foreigners in the industrial sector

Question 548:

• WAEC 2000

One important feature of sole proprietorship is that

A. It is limited liability business
B. The business is owned by shareholders
C. One person bears all the risks
D. It is a legal entity

Question 549:

• WAEC 2000

The maximum amount of money a company is allowed to raise by issuing shares to the public is called

A. Paid-up capital
B. Fixed capital
C. Working capital
D. Authorized capital

Question 550:

• WAEC 2000

The consumers co-operative society is owned by

A. A management committee
B. Members of the society
C. Debenture holders
D. The government