Economics 1998 Waec Past Questions and Answers

Question 16 :

• WAEC 1998

which of the following is not a type of industry?

A. Export
B. Construction
C. Mining
D. Manufacturing
E. Transport

Question 17 :

• WAEC 1998

In a joint-stock company the shareholders are the

A. Owners
B. Managers
C. Chief executives
D. Company advisers
E. Day-to-day decision makers

Question 18 :

• WAEC 1998

The distribution of goods by the price system is distorted when

A. There is a high degree of competition among producers
B. Producers and consumers operate freely
C. Factors of production are mobile
D. No aalowance is made for social costs and social benefits
E. There is price control measure in the system

Question 19 :

• WAEC 1998

An appropriate industrialization strategy in an under-populated country is

A. Import substitution
B. Capital intensive
C. The contract method
D. The use of foreigners in the factories
E. Labour intensive

Question 20 :

• WAEC 1998

The power of trade union may be weakened when there is

A. Optimum population
B. A weak government in power
C. Over population
D. A civilian government in power
E. Under-population