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Economics Past Questions and Answers

Waec Economics Questions

Question 1156:
If TC, FC and VC represent total cost, fixed cost and variable cost respectively, which of the following is correct?
  • A TC = FC - VC
  • B FC = TC + VC
  • C TC > FC + VC
  • D TC = FC + VC
View Answer & Explanation
Question 1157:
The reward to land as a factor of production is
  • A Profit
  • B Rent
  • C Interest
  • D Wage
View Answer & Explanation
Question 1158:
A firm is said to be a public joint stock company when it
  • A Is owned by the government
  • B Sells its shares to members of the public
  • C Operates as a government corporation
  • D Is not legally recognized as a firm
View Answer & Explanation
Question 1159:
All the following are source of finance to a joint stock company except
  • A Debentures
  • B Cooperative loans
  • C Shares
  • D Bank loans
View Answer & Explanation
Question 1160:
The public sector of an economy includes
  • A Cooperative societies
  • B Nationalized industries
  • C Joint stock companies
  • D Pressure groups
View Answer & Explanation