2003 - WAEC Economics Past Questions and Answers - page 3
21
Price elasticity supply measures the responsiveness of quantity supplied to
A
change in suppliers' income
B
change in price of otther commodities
C
a change in the rpice of the commodities
D
a change in the demand for the products
correct option: c
Users' Answers & Comments22
The most common type of business in West African countries is
A
joint-stock companies
B
sole proprietorships
C
Partnership
D
public enterprises
correct option: b
Users' Answers & Comments23
Which of the following is a type of business organization?
A
stock exchange
B
insurance company
C
chain stores
D
co-operatives
correct option: d
Users' Answers & Comments24
one advantage of the sole proprietor is that
A
control and supervise is under one man
B
accounts must be publisized
C
it is always successful
D
funds are easy to obtain
correct option: a
Users' Answers & Comments25
The shares which do not carry any fixed rate of dividend are known as
A
debenture
B
cummulative preference shares
C
ordianry shares
D
participating preferencial shares
correct option: c
Users' Answers & Comments26
The economic goals of public corporation is to
A
maximize profits
B
expand assets
C
minimize cost
D
provide essential services
correct option: d
Users' Answers & Comments27
one of the factors responsible for low agricultural production in West Africa is
A
inadequate labour
B
shortage of lands
C
inadequate implements
D
inadequate research
correct option: c
Users' Answers & Comments28
Efficient distribution of goods in West Africa will be facilitated by
A
poor storage facility
B
adequate transportation system
C
high standard of living
D
high cost of living
correct option: b
Users' Answers & Comments29
The demand for money is
A
derived demand
B
composite demand
C
joint demand
D
complimentary demand
correct option: a
Users' Answers & Comments30
money becomes a very poor store of value in a period of
A
deflation
B
depression
C
recession
D
inflation
correct option: d
Users' Answers & Comments