1999 - WAEC Economics Past Questions and Answers - page 5
41
which of the following combination of qualities ensures a good tax system?
A
Deflationary equity, certainty and convinience
B
Economy convinience, certainty and equity
C
Economy, deflationary, inflationary and certainty
D
Economy, convinience, certainty and inflationary
correct option: b
Users' Answers & Comments42
The quantity demanded of a commodity is influenced only by changes
A
tastes
B
weather
C
price of the commodity
D
Price of other commodities
correct option: c
Users' Answers & Comments43
which of the following is an indirect tax
A
income tax
B
company tax
C
profit tax
D
sales tax
correct option: d
Users' Answers & Comments44
When a pen and a book is demanded together, the demand is said to be
A
composite
B
competitive
C
joint
D
derived
correct option: c
Users' Answers & Comments45
The reward for capital is
A
interest
B
rent
C
risk premium
D
premium
correct option: a
Users' Answers & Comments46
Infant industries are industries that
A
deals in the production of infant books
B
are in their earlier stage of production
C
produce dresses for infants
D
are well established
correct option: b
Users' Answers & Comments47
The most common form of business enterprise in West Africa is the
A
Sole proprietorship
B
Co-operative
C
Partnership
D
joint stock company
correct option: a
Users' Answers & Comments48
in order to boost agriculture, West African countries should pay more attention to
A
shifting cultivation
B
animal husbandry
C
seed multiplication
D
mechanization
correct option: d
Users' Answers & Comments49
Gross National Product (GNP) less depreciation is known as
A
Gross Domestic Products
B
Gross National Income
C
Fixed National Income
D
Net National Income
correct option: d
Users' Answers & Comments50
West African economy can best be described as
A
agricultural
B
backward
C
developed
D
industrialized
correct option: a
Users' Answers & Comments