WAEC Economics 2019 Objective — Question 19
Question 19 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
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The short-run in production is the time period when
- A. techniques of production can easily be changed
- B. all factors of production are variable
- C. at least a factor is fixed while others are variableCorrect
- D. variable factors cannot be changed
Explanation
The short-run is defined as a period of time in which at least one factor of production is fixed while other factors are variable.
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