WAEC (WASSCE) Economics · Production, firms and markets
Theory of production: WAEC 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)).
WAEC (WASSCE) Economics questions on Theory of production
- WAEC 2024In the short-run, a firm can increase output by
- WAEC 2024An advantage a small firm has over a large firm is that the former can better
- WAEC 2024Which of the following best explains diseconomies of scale? Increase in output causes the
- WAEC 2023A small scale firm located within an industrial estate will enjoy
- WAEC 2023Money is able to function more as a medium of exchange when
- WAEC 2022The use of mass advertising media enable a firm to enjoy
- WAEC 2021The law of diminishing returns is applicable to the …
- WAEC 2021The output of an extra unit of an input is referred to as …
- WAEC 2020A large firm may experience diseconomies of scale if there is
- WAEC 2020The exploitation of mineral resources constitutes which form of production?
- WAEC 2020Increasing returns to scale suggests that
- WAEC 2019The short-run in production is the time period when
- WAEC 2019When an increase in inputs leads to a more than proportionate increase in output, there is
- WAEC 2018A firm average cost decreases in the longrun because?
- WAEC 2018The larger a firm, the lower its cost of production This statement explains the?
- WAEC 2017The specialization of labour enhances production because people?
- WAEC 2017when a firm is enjoying internal economies of scale, its?
- WAEC 2016The long run is a period when
- WAEC 2016An entrepreneur is encouraged to adopt division of labour in production because it
- WAEC 2015The law of diminishing marginal returns relate to?
- WAEC 2015By adding all the marginal products at each level of employment of the variable input, we obtain a value equal to
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.
- 2024
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- 2015