Waec Economics Past Questions and Answers

Question 671:

• WAEC 2002

The location of timber and plywood industries in West Africa is mainly influenced by the availability of

A. Transport
B. Water
C. Raw materials
D. Labour supply

Question 672:

• WAEC 2002

The main objective of setting up private businesses is to

A. Protect the interest of the government
B. Maximize profits
C. Provide infrastructure
D. Promote exports

Question 673:

• WAEC 2002

small firms are important for the development of a country because

A. The prices of their products are usually high
B. They render personalized services to the consumers
C. They usually produce goods for the elites
D. They do not normally provide after sales services

Question 674:

• WAEC 2002

A limited liability company is owned by the

A. President of the country
B. Workers
C. General manager
D. Shareholders

Question 675:

• WAEC 2002

The National Electrical Power Authority (NEPA) in Nigeria is a

A. Public Limited Company
B. Private limited company
C. Private authority
D. Public corporation