Question 4171:

• WAEC 2021

Separation of ownership of resources and their control is mostly found in a ____________

A. Sole proprietorship
B. Partnership
C. Joint stock company
D. Consumer co-operative

Question 4172:

• WAEC 2021

By passing the middlemen in the chain of distribution can lead to ____________

A. A problem of unemployment of labour
B. The creation of artificial scarcity
C. High prices of goods and services
D. An increase in government tax revenue

Question 4173:

• WAEC 2021

Two factors which can improve the efficiency of labour are ____________

A. Population size and age of retirement
B. School leaving age and number of disabled workers
C. Work environment and health status of workers
D. School leaving age and number of part-time workers

Question 4174:

• WAEC 2021

The study of economics is Important to every society because it ____________

A. Enables individuals to satisfy all their wants
B. Helps in the utilization of scarce resources.
C. Helps producers to know what to produce.
D. Restores equilibrium between producers and consumers

Question 4175:

• WAEC 2021

A consumer with $10 needs a dress, a pair of shoes, a handbag and jewelry costing $20, $10, $7 and $3 respectively. The opportunity cost of buying the pair of shoes Is the ______________

A. Dress.
B. Jewelry.
C. Handbag and Jewelry.
D. Dress and Jewelry