Waec Economics 1994 Past Questions and Answers

Question 21:

• WAEC 1994

which of the following is not a problem of distribution of goods in Nigeria?

A. Poor communication network
B. Inadequate storage facilities
C. Ignorance of consumers
D. Dishonesty of middlemen
E. Inadequate market

Question 22:

• WAEC 1994

Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he has . If Mr. Idowu buys the television , the refrigerator would be regarded as the

A. Marginal cost
B. Inferior item
C. Opportunity cost
D. Supplementary item
E. Prime cost

Question 23:

• WAEC 1994

Petro-chemicals industries are located in River State of Nigeria due to the presence of

A. A favourable climate
B. Coal deposits
C. Oil palm products
D. An undullating terrain
E. Oil deposits

Question 24:

• WAEC 1994

Foreign exchange control in Nigeria is enforced by the

A. Commercial banks
B. Merchant banks
C. Mortgage banks
D. Central banks
E. Agricultural development banks

Question 25:

• WAEC 1994

The difference between the number of immigrants and emigrants is

A. Internal mobility
B. Internal migration
C. Net migration
D. Marginal migration
E. External migration