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Wednesday, 15 April 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1041:
The purely competitive firm should close down when its price is less than its
  • A Average variable cost
  • B Total fixed cost
  • C Average total cost
  • D Marginal cost
View Answer & Explanation
Question 1042:
During a sale by auction, the price at which the goods finally sold is determined mostly by
  • A Competition between buyers and sellers
  • B Competition among buyers
  • C Competition among sellers
  • D Government policy
View Answer & Explanation
Question 1043:
which of the following does not affect a country's population?
  • A Birth rate
  • B Death rate
  • C Emigration
  • D Unemployment
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Question 1044:
The trade unions in West Africa have achieved the following for the workers except
  • A Increased wages
  • B Better condition of services
  • C Competitive determination of wage rate
  • D Improved welfare facilities
View Answer & Explanation
Question 1045:
The employer's demand curve for labour is represented by the
  • A Marginal product curve of labour
  • B Total product curve of labour
  • C Average product curve of labour
  • D Total cost curve of labour
View Answer & Explanation