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Economics Past Questions and Answers

Waec Economics Questions

Question 1216:
WAEC 2011
A rational consumer is one who
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  • A Spends his income to maximize satisfaction
  • B Is not influenced by advertisemment
  • C Behaves in a particular way all the time
  • D Knows the price of all goods and buys the cheapest
View Answer & Explanation
Question 1217:
WAEC 2011
which of the following is not true about land?
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  • A The supply is fixed
  • B Land is mobile
  • C It is subject to diminishing returns
  • D Land is heterogeneous
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Question 1218:
WAEC 2011
The type of production that involve the tapping and harnessing of natural resources is
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  • A Primary production
  • B Secondary production
  • C Tertiary production
  • D Industrial production
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Question 1219:
WAEC 2011
which of the following does not change in the short run?
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  • A Variable cost
  • B Marginal cost
  • C Total cost
  • D Fixed cost
View Answer & Explanation
Question 1220:
WAEC 2011
The resource used in production are called
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  • A Variable inputs
  • B Factors of production
  • C Capital for production
  • D Fixed inputs
View Answer & Explanation

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