1990 - WAEC Economics Past Questions and Answers - page 3
21
Which of the following statements is not true of cheques? They
A
provide an alternative to carrying large sums of money around
B
can be written out for any amount needed
C
are legal tender
D
provides a form of receipt
22
Which of the following are not agents of distribution
A
Wholesalers
B
Retailers
C
Consumers
D
Government agencies
23
One of the greatest demerits of the middlemen in Nigeria is that they
A
increase the price of goods and services at will
B
Sell in small units only
C
Store goods in warehouse that are not spacious enough
D
Sell on credit to retailers only
24
When a business has an unlimited liability
A
the owner are not responsible for all its financial debts
B
all its profits can be taxed by the government
C
the owners are responsible for all its financial debts
D
all its assets belongs to the members of its board of directors
25
when a country has a large labour forvce , it is beneficial to use a method of production which is
A
capital intensive
B
land intensive
C
labour intensive
D
mechanically intensive
26
which of the following are determinants of the rate of population growth?
A
Birth rate, immigration and death rate
B
birth rate, death rate and emigration
C
Death rate , birth rate and net migration
D
Migration, large families and birth rate
27
The concentration of industries in one place is referred to as
A
location of industries
B
multiplication of industries
C
pluralization of industries
D
proliferation of industries
28
which of the following best describes the budget? A
A
plan of government's needs and expenditure for a year
B
detailed estimate of government financial operation for a year
C
satisfactory balance between income and expenditure for one year
D
plan for importation of essential goods and services for one year
29
Which of the following is not done by the NNPC?
A
production of crude oil
B
Refining of crude oil
C
Exploration for crude oil
D
Exploitation of crude oil
30
One major function of the Central Bank is to
A
mint money
B
hold demand deposit and honour cheques
C
act as a medium of exchange
D
create money
Loading lesson…