Economics WAEC - Page 83 of 319

Abstention from consumption enables capital to be produced. Such abstention is called?

A. savings B. production C. accumulation D. factors of production E. opportunity cost Correct Answer: Option A – savings

Factory buildings, machinery and raw materials are known in Economics as?

by Sunday | Aug 5 | Economics WAEC

A. personal wealth B. social wealth C. government wealth D. business wealth E. public wealth Correct Answer: Option D – business wealth

Limited liability means that?

by Sunday | Aug 5 | Economics WAEC

A. the debt of a company can only be paid from its own assets B. the debts of a company are paid from business as well as private funds of the owners C. a company does not have to pay its debts D. the debts of a company must be paid from private funds only E....

Under normal circumstances, a producer will bear the entire burden of taxation on his output if the?

by Sunday | Aug 5 | Economics WAEC

A. supply of his goods is more elastic than the demand B. demand for his products is completely elastic C. production of his commodity is subject to diminishing returns D. demand for his products is more elastic than the supply E. demand for his products is completely...