Waec Economics Past Questions and Answers

Question 126:

• WAEC 1990

The concentration of industries in one place is referred to as

A. Location of industries
B. Multiplication of industries
C. Pluralization of industries
D. Proliferation of industries
E. Localization of industries

Question 127:

• WAEC 1990

which of the following best describes the budget? A

A. Plan of government's needs and expenditure for a year
B. Detailed estimate of government financial operation for a year
C. Satisfactory balance between income and expenditure for one year
D. Plan for importation of essential goods and services for one year
E. Plan for control of government industries and corporations for one year

Question 128:

• WAEC 1990

Which of the following is not done by the NNPC?

A. Production of crude oil
B. Refining of crude oil
C. Exploration for crude oil
D. Exploitation of crude oil
E. Pricing of crude oil

Question 129:

• WAEC 1990

One major function of the Central Bank is to

A. Mint money
B. Hold demand deposit and honour cheques
C. Act as a medium of exchange
D. Create money
E. Control and regulate money supply

Question 130:

• WAEC 1990

Distribution involves the

A. Movement of raw materials to production centres
B. Transfer of goods and services from one market to another
C. Movement of goods and services by middlemen to urban centres
D. Transfer of goods and services from wholesalers to consumers
E. Transfer of goods and services from production centre to consumers