Waec Economics 2014 Past Questions and Answers

Question 41:

• WAEC 2014

A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as

A. Merchant Bank
B. Development Bank
C. Central Bank
D. Insurance Company

Question 42:

• WAEC 2014

Which of the following functions of money is mostly affected during inflation?

A. Medium of exchange
B. Unit of Account
C. Store of value
D. Standard of deferred payment

Question 43:

• WAEC 2014

Precautionary motive for holding money is to

A. Meet daily and regular transactions
B. Take advantage of changes in the prices of goods and services
C. Cover unforeseen events
D. Cover expenses on house rent

Question 44:

• WAEC 2014

Which of the following measures will not encourage industrialization in West Africa?

A. Taking over of all forms of industries by the government
B. Provision of social infrastructure
C. Giving tax incentives, especially to infant indudustries
D. Using tariffs to discourage the use of imported items

Question 45:

• WAEC 2014

The concentration of many firms of a particular industry in a particular area is known as

A. Loccation of industry
B. Amalgamation of industries
C. Localization of industries
D. Nationalization of industry