Waec Economics Past Questions For Year 2006
Question 26
The study of economics enables the individuals to
- A. change jobs
- B. evades taxes
- C. accumulate huge wealth
- D. make rational decisions
Question 27
If the fixed cost of a firm is 800.00 Naira and it's variable cost is 2,700 Naira while it's total output is 100 units, what is the average cost of the firm?
- A. 25 Naira
- B. 35 Naira
- C. 45 Naira
- D. 50 Naira
Question 28
An owner-manager of a firm can also be called
- A. a shareholder
- B. an entrepreneur
- C. an employer
- D. a chairman
Question 29
mining is an example of
- A. tertiary production
- B. primary production
- C. secondary production
- D. advanced production
Question 30
The reward to capital as a factor of production is
- A. rent
- B. wage
- C. interest
- D. commission
