2012 - WAEC Economics Past Questions and Answers - page 3
21
One reason why small scale businesses are very common in West Africa is that
A
they can easily float shares
B
their management boards are easily formed
C
their initial capital is easy to rise
D
their dividened payments are very regular
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22
A public limited company could finance its operations through
A
government taxes
B
equity shares
C
dividend payments
D
import duties
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23
The factor of production which takes the initiative in combining resources for production is known as
A
capital
B
land
C
entrepreneur
D
labour
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24
The type of monopoly that develops as a result of granting patent right is known as
A
natural monopoly
B
state monopoly
C
legal monopoly
D
discriminating monopoly
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25
Which of the following is a function of a retailer?
A
Banking services
B
Hoarding services
C
Storage services
D
Sales services
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26
`The difference between the number of immigrants and emigrants is
A
natural growth rate
B
natural increase
C
net migration
D
census
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27
All of the following is the features of optimum population except
A
full employment of available resources
B
unlimited amount of unexploited resources
C
maximum per capita production and income
D
high standard of living
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28
The financial institution that specializes in risk spreading is called
A
an investment bank
B
a development bank
C
an insurance company
D
the stockexchange
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29
The following are means of reducing the population of a country except encouraging
A
emigration
B
family planning
C
early marriage
D
sex education
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30
Which of the following features best describes peasant agriculture in West Africa? It
A
specializes in the production of one crop
B
involves the use of small farm holdings
C
is a capital-intensive system of farming
D
is mostly associated with tree crops
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