Waec Economics Past Questions and Answers

Question 796:

• WAEC 2004

For both the monopolist and the perfectly competitive firm , profit maximizing output occurs at the point where the

A. Marginal cost curves cuts the marginal revenue curve from below
B. Marginal revenue curve cuts the marginal output from above
C. Marginal cost curve intersect the X-axis
D. Marginal revenue curve intersects the Y-axis

Question 797:

• WAEC 2004

The market structure in which the operation are many and none of them can influence the price is

A. Imperfect market
B. Perfect market
C. Oligopolistic
D. Stock market

Question 798:

• WAEC 2004

one main benefit of partnership is

A. The possibility of raising funds on the stock exchange
B. The possibility of attracting twenty one or more members
C. That members can specialize in various functions
D. That it enjoys its own separate legal entity

Question 799:

• WAEC 2004

Joint ventures are partnerships involving

A. The poor and the rich
B. Employers and workers
C. Government and private investors
D. Multinationals and individuals

Question 800:

• WAEC 2004

The value of money is best determined by

A. Input-output ratio
B. The purchasing power
C. The importance people attach to it
D. Economies of scale