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Economics Past Questions and Answers

Waec Economics Questions

Question 546:

Dividing total variable cost by quantity of output gives

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

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Question 547:

Public enterprises are established mainly to

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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

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Question 548:

One important feature of sole proprietorship is that

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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

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Question 549:

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

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

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Question 550:

The consumers co-operative society is owned by

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

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