Waec Economics Past Questions and Answers

Question 171:

• WAEC 1991

Which of the following is a function of money? It is

A. Portable
B. A standard of diferred payment
C. Relatively stable in value
D. Generally acceptable
E. An easily divisible item

Question 172:

• WAEC 1991

The productivity of labour does not depend only o its own effort and efficiency, but also on I the level of technical knowledge II. the quality of other factors III. racial qualities which allow persons from certain races to have good physique and be very active . Which of the above statements is /are correct?

A. I only
B. I and II only
C. I and III only
D. II and III only
E. III only

Question 173:

• WAEC 1991

A tax is said to be good when

A. It yields more revenue to the state at the expense of the people's ability to pay
B. The cost of collecting it is equal to the revenue it generates
C. It is imposed so suddenly that no one can dodge its payment
D. Its payment causes minimum incovenience to the tax payer
E. It induces workers to prefer more leisure to extra work

Question 174:

• WAEC 1991

Which of the following is a public corporation?

A. Roads (Nigeria) Plc
B. National Oil and Chemical Marketing Co. Plc
C. Union Bank of Nigeria Plc
D. Volkswagen of Nigeria Plc
E. National Electric Power authority

Question 175:

• WAEC 1991

In a sole proprietorship decisions are made by the

A. Government
B. Owner
C. Shareholder's conference
D. Management
E. Board of directors