by Sunday | Aug 1 | Economics WAEC
A. permits the exploitation of economies of scale B. incorporates external economies C. is based on the law of variable proportions D. allocates resources according to absolute advantage Correct Answer: Option D – allocates resources according to absolute...
by Sunday | Aug 1 | Economics WAEC
A. there is at least one fixed factor B. all costs of production must be covered C. the output cannot be varied D. current output is not profitable Correct Answer: Option A – there is at least one fixed factor
by Sunday | Aug 1 | Economics WAEC
A. the scarcity of goods and services in the market B. low real and money wages C. the need for equitable distribution of goods and services D. transportation and distribution problems Correct Answer: Option C – the need for equitable distribution of goods and...
by Sunday | Aug 1 | Economics WAEC
A. the over utilization of human and natural resources B. unavailability of mineral resources C. inadequate manpower resources D. the under-utilization of human and natural resources Correct Answer: Option D – the under-utilization of human and natural...
by Sunday | Aug 1 | Economics WAEC
A. 5,000,000 B. 6,250,000 C. 11,750,000 D. 12,250,000 Correct Answer: Option B – 6,250,000