Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
A movement along the same demand curve either upwards or downwards as a result of change in price implies
Aa chnage in demand
Ba change in quantity demanded
Can increase in demand
Da shift in the demand curve to the right
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Question 22
waec2006
Distribution of goods and service is hindered by
Agood road network
Befficient storage facilities
Ctoo many middlemen
Dadequate market information
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Question 23
waec2006
If the fixed cost of a firm is 800.00 Naira and it's variable cost is 2,700 Naira while it's total output is 100 units, what is the average cost of the firm?
A25 Naira
B35 Naira
C45 Naira
D50 Naira
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Question 24
waec2006
An owner-manager of a firm can also be called
Aa shareholder
Ban entrepreneur
Can employer
Da chairman
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Question 25
waec2006
mining is an example of
Atertiary production
Bprimary production
Csecondary production
Dadvanced production
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Question 26
waec2006
The reward to capital as a factor of production is
Arent
Bwage
Cinterest
Dcommission
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Question 27
waec2006
which of the following tool of economic analysis is used when data contains more than one category?
ABar charts
Bcomponent bar charts
CGraphs
DSymbolical sratement
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Question 28
waec2006
Most of the problems of economics arises as a result of
Acompeting demand for scarce resources
Bincrease in the demand for more goods and services
Cthe desire of producers to supply more goods and services
