2007 - WAEC Economics Past Questions and Answers - page 3
21
which of the following is a middleman in the chain of distribution?
A
An entrepreneur
B
a producer
C
a banker
D
a retailer
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22
A negative effect of the presence of a large number of middlemen in the distributive network is
A
greater variety of goods
B
greater quality of goods
C
lower price of goods
D
higher price of goods
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23
An example of a producer goods is a
A
tin of milk
B
hammer
C
loaf of bread
D
shirt
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24
To promote the development of agricultural sector, government of West African countries should
A
encourage rural-urban drift
B
discourage foreign investment in agriculture
C
support the marketing of farm produce
D
reduce tarrif of food imports
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25
The most important quality of money is that it must be
A
relatively scarce
B
generally acceptable
C
portable
D
durable
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26
A certain amount of money is needed for everyday expenditure like buying of goods, transportation and others. This is
A
transaction demand for money
B
precautionary demand for money
C
derived demand for money
D
speculative demand for money
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27
Long-term loans can be secured from
A
Commercial banks
B
discount houses
C
development banks
D
acceptance houses
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28
The value of money is generally measured in relation to the
A
interest rate charged on the bank loans
B
general price level
C
size of a country's gold stock
D
volume of imports
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29
which of the following is true under rapid inflation? People
A
demand less foreign exchange
B
set up businesses
C
rush to pay their taxes
D
hardly wants to lend money
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30
which of the following financial institutions was originally known as a Building Society?
A
Development banks
B
insurance company
C
Mortgage banks
D
merchant banks
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