Search SchoolNGR

Monday, 04 May 2026
Register . Login

Economics Past Questions and Answers

Waec Economics Questions

Question 1736:
In perfect competition, the average revenue curve of a firm is
  • A Below the marginal revenue curve
  • B Downward sloping
  • C The marginal revenue curve
  • D Convex to the origin
View Answer & Explanation
Question 1737:
Which of the following means of funding a business is very reliable and cheap?
  • A Bank loans
  • B Loans from friends
  • C Plough back profits
  • D Debentures
View Answer & Explanation
Question 1738:
Govermment in most cases influences the location of firms to
  • A Discourage private investors
  • B Ensure equitable distribution
  • C Reduce the cost of production
  • D Make the firms enjoy economies of scale
View Answer & Explanation
Question 1739:
Middlemen are made up of _____________
  • A Manufacturers, wholesalers, and consumers
  • B Manufacturers, wholesalers, and retailers
  • C Wholesalers, retailers and hawkers
  • D Wholesalers, retailers, and consumers
View Answer & Explanation
Question 1740:
Malthusian theory of population was proved wrong because
  • A The practice of subsistence farming was encouragedMalthus view was seen as an exaggeration
  • B Developing countries adopted birth control method
  • C New lands and new methods of production were discovered
View Answer & Explanation