Waec Economics Past Questions and Answers

Question 1156:

• WAEC 2010

If TC, FC and VC represent total cost, fixed cost and variable cost respectively, which of the following is correct?

A. TC = FC - VC
B. FC = TC + VC
C. TC > FC + VC
D. TC = FC + VC

Question 1157:

• WAEC 2010

The reward to land as a factor of production is

A. Profit
B. Rent
C. Interest
D. Wage

Question 1158:

• WAEC 2010

A firm is said to be a public joint stock company when it

A. Is owned by the government
B. Sells its shares to members of the public
C. Operates as a government corporation
D. Is not legally recognized as a firm

Question 1159:

• WAEC 2010

All the following are source of finance to a joint stock company except

A. Debentures
B. Cooperative loans
C. Shares
D. Bank loans

Question 1160:

• WAEC 2010

The public sector of an economy includes

A. Cooperative societies
B. Nationalized industries
C. Joint stock companies
D. Pressure groups