Waec Economics 1996 Past Questions and Answers

Question 16:

• WAEC 1996

The Ownership of a Public Limited Company is made up of

A. Two to twenty persons
B. A minimum of seven shareholders
C. A minimum of fifty and maximum of one hundred shareholders
D. Two to fifty shareholders
E. A maximum of fifty shareholders

Question 17:

• WAEC 1996

All the following are the economic reasons for establishing public enterprises except the provision of ,

A. An avenue for expressing national prestige
B. Services at a cheaper cost
C. Socially necessary facilities
D. Services which are natural monopolies
E. Employment opportunities

Question 18:

• WAEC 1996

The unemployment associated with decrease in demand is referred to as

A. Disguised
B. Imposed
C. Cyclical
D. Voluntary
E. Functional

Question 19:

• WAEC 1996

Monopoly can best be described as a market in which

A. A single seller sells a product which has no close substitute
B. Few sellers sell a product s at different prices
C. The entry of other firms is restricted by the few firms in the market
D. Two or more sellers sell a product which is differentiated
E. A single buyer buys a product which has no close substitutes

Question 20:

• WAEC 1996

which of the following market structure are imperfect in competition. I monopoly II duopoly III oligopoly

A. I only
B. II and III only
C. I and II only
D. I and III only
E. I,II and III only