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Economics Past Questions and Answers

Waec Economics Questions

Question 481:
Productivity , per worker, is best measured by
  • A Total output less number of workers
  • B Total output multiplied by number of workers
  • C Number of workers less total output
  • D Total output didvided by number of workers
View Answer & Explanation
Question 482:
In determining cost economics considers
  • A Implicit cost only
  • B Explicit cost only
  • C Implicit and explicit costs
  • D Explicit cost less implicit
View Answer & Explanation
Question 483:
The precautionary motive for holding money is to enable the holder to
  • A Buy stocks when interest are high
  • B Overcome unforseesn contigencies
  • C Buy goods and services on daily basis
  • D Buy fixed assets
View Answer & Explanation
Question 484:
In long run, all factors inputs are
  • A Variable
  • B Diminishing
  • C Constant
  • D Fixed
View Answer & Explanation
Question 485:
The benefits that result from concentrating similar firms in an area is referred to as
  • A External diseconomies of scales
  • B Internal diseconomies of scales
  • C Internal economies of scales
  • D External economies of scales
View Answer & Explanation