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Monday, 04 May 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1681:
Rents and interest are rewards to
  • A Labour and capital respectively
  • B Land only
  • C Capital only
  • D Labour and land respectively
  • E Land and capital respectively
View Answer & Explanation
Question 1682:
The process that leads to an agreement on the condition of service between employer and employee is termed
  • A Salary negotiation
  • B Arbitration
  • C Collective bargaining
  • D Conciliation
  • E Reconciliation
View Answer & Explanation
Question 1683:
Diminishing return occurs in short run when there is a reduction in the
  • A Average product of the fixed factor
  • B Total product of the variable factor
  • C Total product of the fixed factor
  • D Marginal product of the variable factor
  • E Marginal product of the fixed factor
View Answer & Explanation
Question 1684:
In production, factory buildings are regarded as
  • A Variable cost
  • B Average costs
  • C Marginal costs
  • D Total cost
  • E Fixed costs
View Answer & Explanation
Question 1685:
The Ownership of a Public Limited Company is made up of
  • A Two to twenty persons
  • B A minimum of seven shareholders
  • C A minimum of fifty and maximum of one hundred shareholders
  • D Two to fifty shareholders
  • E A maximum of fifty shareholders
View Answer & Explanation