Waec Economics 2012 Past Questions and Answers

Question 21:

• WAEC 2012

An arrangement in which the debts of a company can only be paid from its own assets implies

A. Unlimited liability
B. Transferred liability
C. Limited liability
D. Capital liability

Question 22:

• WAEC 2012

One reason why small scale businesses are very common in West Africa is that

A. They can easily float shares
B. Their management boards are easily formed
C. Their initial capital is easy to rise
D. Their dividened payments are very regular

Question 23:

• WAEC 2012

A public limited company could finance its operations through

A. Government taxes
B. Equity shares
C. Dividend payments
D. Import duties

Question 24:

• WAEC 2012

The factor of production which takes the initiative in combining resources for production is known as

A. Capital
B. Land
C. Entrepreneur
D. Labour

Question 25:

• WAEC 2012

The type of monopoly that develops as a result of granting patent right is known as

A. Natural monopoly
B. State monopoly
C. Legal monopoly
D. Discriminating monopoly