Waec Economics Past Questions and Answers

Question 441:

• WAEC 1998

one of the advantages of localization of industry is that firms

A. Make abnormal profits
B. Are given tax holidays
C. Are unified under one management
D. Pay high wages
E. Can have a large pool of skilled labours

Question 442:

• WAEC 1998

which of the following is not a type of industry?

A. Export
B. Construction
C. Mining
D. Manufacturing
E. Transport

Question 443:

• WAEC 1998

In a joint-stock company the shareholders are the

A. Owners
B. Managers
C. Chief executives
D. Company advisers
E. Day-to-day decision makers

Question 444:

• WAEC 1998

The distribution of goods by the price system is distorted when

A. There is a high degree of competition among producers
B. Producers and consumers operate freely
C. Factors of production are mobile
D. No aalowance is made for social costs and social benefits
E. There is price control measure in the system

Question 445:

• WAEC 1998

An appropriate industrialization strategy in an under-populated country is

A. Import substitution
B. Capital intensive
C. The contract method
D. The use of foreigners in the factories
E. Labour intensive