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Economics Past Questions and Answers

Waec Economics Questions

Question 1621:

in the the longrun, a firm must shut down if its average revenue is?

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A Greater than average cost
B Less than average variable cost
C Equal to the minimum average cost
D Equal to the average cost

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Question 1622:

public limited liability companies are democratic in nature because?

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A Government appointees are members of the board
B They are run by elected public officers
C Electoral principles are adopted in the day-to-day management
D Shareholders elect the board of directors

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Question 1623:

in the event of bankruptcy owners of joint-stock companies lose?

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A Their private properties
B Both company and private properties
C Only the capital invested
D Only their dividends

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Question 1624:

wholesalers play an important role in the distribution of goods and services because they?

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A Are located very close to consumers
B Finance both producers and retailers
C Pass information on from retailers to consumers
D Sell in small units to consumers

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Question 1625:

if workers at the school canteen sell during the holidays, this is an example of?

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A Structural unemployment
B Frictional unemployment
C Seasonal unemployment
D Residual unemployment

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