Search SchoolNGR

Economics Past Questions and Answers

Waec Economics Questions

Question 1816:

The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows

Output (units)	50	60	70	80	90
Total revenue (TR) $	85	102	119	136	153

What is the firm's marginal revenue?

SchoolNGR Classroom

A $153.00
B $17.00
C $1.70
D $O.80

View Answer & Explanation

Question 1817:

The location of iron and steel industry at a place is due to ____________

SchoolNGR Classroom

A Easy access to raw materials
B Access to cheap labour
C Government policy
D Good infrastructure

View Answer & Explanation

Question 1818:

Import substitution as a strategy of industrialization is the ____________

SchoolNGR Classroom

A Replacement of locally produced goods with imported ones
B Development of locally produced goods with imported ones
C Establishment of firms to process imported raw materials
D Act of using local inputs to produce goods for export

View Answer & Explanation

Question 1819:

Which of the following are intermediate products?

SchoolNGR Classroom

A Cement and steel
B Furniture and shirt
C Handkerchief and shoe
D Table and door

View Answer & Explanation

Question 1820:

How is NNP at factor cost derived from GNP at market prices?

SchoolNGR Classroom

A GNP - Depreciation + Indirect taxes + Subsidies
B GNP Depreciation -
Indirect taxes + Subsidies
C GNP + Depreciation
Indirect taxes - Subsidies
D GNP+
Depreciation- Indirect taxes + Subsidies

View Answer & Explanation

Stay Updated

Follow us on:

Subjects