Waec Economics Past Questions and Answers

Question 1281:

• WAEC 2012

The factor of production which takes the initiative in combining resources for production is known as

A. Capital
B. Land
C. Entrepreneur
D. Labour

Question 1282:

• WAEC 2012

The type of monopoly that develops as a result of granting patent right is known as

A. Natural monopoly
B. State monopoly
C. Legal monopoly
D. Discriminating monopoly

Question 1283:

• WAEC 2012

Which of the following is a function of a retailer?

A. Banking services
B. Hoarding services
C. Storage services
D. Sales services

Question 1284:

• WAEC 2012

`The difference between the number of immigrants and emigrants is

A. Natural growth rate
B. Natural increase
C. Net migration
D. Census

Question 1285:

• WAEC 2012

All of the following is the features of optimum population except

A. Full employment of available resources
B. Unlimited amount of unexploited resources
C. Maximum per capita production and income
D. High standard of living