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Economics Past Questions and Answers

Waec Economics Questions

Question 796:

For both the monopolist and the perfectly competitive firm , profit maximizing output occurs at the point where the

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A Marginal cost curves cuts the marginal revenue curve from below
B Marginal revenue curve cuts the marginal output from above
C Marginal cost curve intersect the X-axis
D Marginal revenue curve intersects the Y-axis

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Question 797:

The market structure in which the operation are many and none of them can influence the price is

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A Imperfect market
B Perfect market
C Oligopolistic
D Stock market

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Question 798:

one main benefit of partnership is

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A The possibility of raising funds on the stock exchange
B The possibility of attracting twenty one or more members
C That members can specialize in various functions
D That it enjoys its own separate legal entity

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Question 799:

Joint ventures are partnerships involving

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A The poor and the rich
B Employers and workers
C Government and private investors
D Multinationals and individuals

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Question 800:

The value of money is best determined by

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A Input-output ratio
B The purchasing power
C The importance people attach to it
D Economies of scale

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