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Thursday, 09 April 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 726:
Division of labour leads to
  • A Improved craftsmanship
  • B The production of standardized goods
  • C Increase in the cost of goods
  • D Trade by barter
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Question 727:
which of the following is an advantage of localization of industry?
  • A Development of subsidiary firms
  • B Creation of paralell markets
  • C Developments of slums
  • D Attraction of foreign capitals
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Question 728:
The additional satisfaction derived from the consumption of one or more unit of a good is called
  • A Marginal products
  • B Marginal utility
  • C Marginal revenue
  • D Marginal cost
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Question 729:
when the total products is at its maximum marginal products is
  • A Increasing
  • B Positive
  • C Negative
  • D Zero
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Question 730:
Marginal cost can be derived from the
  • A Total product
  • B Total revenue
  • C Total cost
  • D Average fixed cost
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