1993 - WAEC Economics Past Questions and Answers - page 2
11
which of the following does not apply to private companies?
A
the number of shareholders is limited
B
the liability of shareholders is limited
C
accounts have to be publicized
D
the companies are separate legal entities
correct option: e
Users' Answers & Comments12
In , Economics the reward for labour is in the form of
A
wages
B
profit
C
rent
D
dividends
correct option: a
Users' Answers & Comments13
A nation with a working population that is insufficient to exploit its resources is said to be
A
over-populated
B
under-populated
C
experiencing decrease population
D
experiencing increasing population
correct option: b
Users' Answers & Comments14
Which of the following may not be included in explaining the term production?
A
provision of services
B
manufacture of goods
C
changing raw materials ti finishing goods
D
use of consumer goods
correct option: d
Users' Answers & Comments15
which of the following business establishment are not motivated mainly by profit?
A
Public Limited Companies
B
Private Limited Companies
C
Holding companies
D
Patnershps
correct option: e
Users' Answers & Comments16
Production is not complete until the
A
goods gets to the wholesaler
B
goods reached the final consumer
C
factors of production are combined
D
goods are ready for transportation
correct option: b
Users' Answers & Comments17
which of the following is the correct way to calculate total cost?
A
Addition of fixed cost to variable cost
B
Division of total cost by total output
C
Multiplication of fixed cost by the variable cost
D
Subtraction of fixed cost from total cost
correct option: a
Users' Answers & Comments18
Robert T. Malthus postulated in his population theory that
A
the death rate may become so high that people may not survive
B
people will eventually stop having children
C
people will migrate from one place to another in search of food
D
posititve efforts should be made to increase population
correct option: e
Users' Answers & Comments19
Division of labour may be restricted when
A
an ailing economy has improved
B
producers live in villages
C
market is small
D
there is full employment
correct option: c
Users' Answers & Comments20
Land is often distinguished as a factor of production because it
A
is a free gift of nature
B
constitutes one-third of the entire world
C
is unlimited in supply
D
is owned by individuals
correct option: a
Users' Answers & Comments