1994 - WAEC Economics Past Questions and Answers - page 3

Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he has . If Mr. Idowu buys the television , the refrigerator would be regarded as the

Petro-chemicals industries are located in River State of Nigeria due to the presence of

Foreign exchange control in Nigeria is enforced by the

The difference between the number of immigrants and emigrants is

Risk bearing and managerial control are the main function of the

If successive unit of labour are added to a piece of land while capital and technology remains constant, a point will be reached in the level of production when each additional unit of labour will add less to the output than previous units. This concept is known as

When a firm's total revenue is at the maximum , marginal revenue is

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

Limited liability means that

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