Waec Economics Past Questions and Answers

Question 241:

• WAEC 1993

The rural area of West Africa lack industries because

A. Rural people are not meant to work in industries
B. Rural people are uneducated
C. Of inadequate infrastructure
D. Of low population density
E. They are not suitable for industries

Question 242:

• WAEC 1993

An entrepreneur will locate his industry in a place

A. Nearest to his homw town
B. Where the cost of production will be minimized
C. Nearest to his wife's hometown
D. Where the government direct him to locate
E. Where there is no other industry

Question 243:

• WAEC 1993

which of the following reasons is mainly responsible for the inefficient distribution of goods in West African countries?

A. Large number of distribution companies
B. Import and export restrictions by the government
C. Narrow markets for commodities produced
D. Poor transportation and communication system
E. Large influence of foreign traders

Question 244:

• WAEC 1993

which of the following does not apply to private companies?

A. The number of shareholders is limited
B. The liability of shareholders is limited
C. Accounts have to be publicized
D. The companies are separate legal entities
E. Shares are not easily transferable

Question 245:

• WAEC 1993

In , Economics the reward for labour is in the form of

A. Wages
B. Profit
C. Rent
D. Dividends
E. Interest