2005 - WAEC Economics Past Questions and Answers - page 3
21
The transfer of ownership of a public enterprise to individuals and firms is called
A
commercialization
B
nationalization
C
privatization
D
restructuring
correct option: c
Users' Answers & Comments22
One-man business are popular in West Africa because of all the following except the
A
ease of entry
B
small capital required
C
limited enterpreneur skills needed
D
tendency to become joint-stock compsnies
correct option: d
Users' Answers & Comments23
Wholesalers are often criticized because they
A
help to break the bulk
B
finance producers
C
increase prices
D
provide after-sales services
correct option: c
Users' Answers & Comments24
In which of the following business units are the owners mostly customers?
A
co-operatives
B
limited liability companies
C
partnerships
D
public corporations
correct option: a
Users' Answers & Comments25
information about new goods is passed on to buyers through
A
advertising
B
retail trade
C
the manufacturer
D
wholesale trade
correct option: a
Users' Answers & Comments26
The profit of the producers can be calculated as the
A
total cost less total revenue
B
average revenue less average cost
C
total revenue less total cost
D
marginal revenue less marginal cost
correct option: c
Users' Answers & Comments27
The direct exchange of one goods for another without the use of money is known as
A
foreign exchange
B
exchange rate
C
expenditure rate
D
barter
correct option: d
Users' Answers & Comments28
Acceptability, durability, homogeneity and portability are all attributes of good
A
markets
B
money
C
banks
D
government
correct option: b
Users' Answers & Comments29
The term demand for money means
A
desire to borrow money from people
B
desire of an individual to invest all his money in projects
C
willingness of people to hold money
D
wilingness of people to keep all their resources in assets
correct option: c
Users' Answers & Comments30
A persistent and appreciable rise in the general level of price is known as
A
depreciation
B
inflation
C
deflation
D
production
correct option: b
Users' Answers & Comments