Welcome to Schoolngr.com

Search SchoolNGR

Thursday, 12 November 2026
Register . Login

Economics Past Questions and Answers

[share]

Waec Economics Questions

Question 1031:
WAEC 2008
Small scale enterprises are important in a country because
SchoolNGR Classroom
  • A They usually produce goods for the dependants
  • B They provide after-sales servie only to the rich
  • C The price of their products are fixed
  • D They render personalized service to the consumers
View Answer & Explanation
Question 1032:
WAEC 2008
In the long run all factors of production are
SchoolNGR Classroom
  • A Expensive
  • B Variable
  • C Durable
  • D Fixed
View Answer & Explanation
Question 1033:
WAEC 2008
The transformation curve slopes indicates that
SchoolNGR Classroom
  • A Opportunity cost of producing one commodity for another
  • B Opportunity cost of producing two commodities at a time
  • C Sales of the plants to other investors
  • D Decrease in the cost of production
View Answer & Explanation
Question 1034:
WAEC 2008
Which of the following is regarded as fixed cost?
SchoolNGR Classroom
  • A Expenditure on raw materials
  • B Expenditure on fuel
  • C Expenditure on power
  • D Rent on land
View Answer & Explanation
Question 1035:
WAEC 2008
Revenue is the
SchoolNGR Classroom
  • A Cost of good multiplied by the quantity sold
  • B Price of goods multiplied by the quantity sold
  • C Quantity of goods plus purchase price
  • D Quantity supplied less quantity sold
View Answer & Explanation

Stay Updated

Follow us on:


Subjects