NECO Economics · Production, firms and markets
Theory of production: NECO Economics Past Questions and Answers
What the WAEC syllabus covers in Theory of production
Our summary: Division of labour, the scale of production and how output changes as more of one input is added.
- Production: division of labour and specialization
- Scale of production (internal and external economies)
- Concept of total, average and marginal productivity and law of variable proportions
Syllabus content © The West African Examinations Council (WASSCE (harmonised West African syllabus)). NECO questions are matched to the WAEC syllabus topic.
NECO Economics questions on Theory of production
- NECO 2009Production is best defined in economics as
- NECO 2007The creation of physical and concrete goods that can be seen and handled Is
- NECO 2005Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds
- NECO 2005When the total product starts falling, then the marginal product is
- NECO 2004A firm with a total of 54 employees produced 108 tonnes of toilet tissues in 3months. What is the average production per employee?
- NECO 2003Which of the following is NOT an internal dis-economy of scales?
- NECO 2003The law of variable proportion state that if the quantities of variable factor of production are used with fixed factor, after a certain point,
- NECO 2002Long-run in economic mean a period of time in which
Years with Theory of production questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2009
- 2007
- 2005
- 2004
- 2003
- 2002