Waec Economics 1993 Past Questions and Answers

Question 11:

• WAEC 1993

which of the following reasons is mainly responsible for the inefficient distribution of goods in West African countries?

A. Large number of distribution companies
B. Import and export restrictions by the government
C. Narrow markets for commodities produced
D. Poor transportation and communication system
E. Large influence of foreign traders

Question 12:

• WAEC 1993

which of the following does not apply to private companies?

A. The number of shareholders is limited
B. The liability of shareholders is limited
C. Accounts have to be publicized
D. The companies are separate legal entities
E. Shares are not easily transferable

Question 13:

• WAEC 1993

In , Economics the reward for labour is in the form of

A. Wages
B. Profit
C. Rent
D. Dividends
E. Interest

Question 14:

• WAEC 1993

A nation with a working population that is insufficient to exploit its resources is said to be

A. Over-populated
B. Under-populated
C. Experiencing decrease population
D. Experiencing increasing population
E. Having optimum population

Question 15:

• WAEC 1993

Which of the following may not be included in explaining the term production?

A. Provision of services
B. Manufacture of goods
C. Changing raw materials ti finishing goods
D. Use of consumer goods
E. Making goods available where and when they are needed