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In a public corporation , the risks of business are borne by the
Aworkers
Btax payers
Cboard members
Dtreasury
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Question 12
waec2001
The reward for a shareholdership of a company is
Awages
Binterest
Cdividends
Dprofit
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Question 13
waec2001
Which of the following is not a condition for a perfect market?
Ahomogenous commodity
Bignorance of consumers
Cperfect information
Dfree entry and exit
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Question 14
waec2001
The monopolist power can be controlled by the government through
Alabour union
Bprice legislation
Cimport restrictions
Dexport promotion
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Question 15
waec2001
which of the following is not a trade union in Nigeria?
ANigerian Labour Congress
BAcademic Staff Union of Universities
CNigerian Ecoonomic Society
DNigerian Union of Journalists
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Question 16
waec2001
When the government initiates measures to make an organization in which it has substantial interest more profit oriented, such a business is described as being
Aindigenized
Brestructured
Cprivatized
Dcommercialized
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Question 17
waec2001
Which of the following business units can issue shares?
ASole trader
Bprivate limited companies
CCentral Banks
DSuper market
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Question 18
waec2001
Industries are not sited in most rural areas of Nigeria because ?
Aof inadequate basic infrastructure
Bthey lack raw materials
Cthere is no appropriate government policy
Dthe climate is not conducive
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Question 19
waec2001
monocultural agriculture means
Athe cultivation of seasonal crops
Bthe cultivation of one major crop
Cplantation agriculture
Dshifting cultivation
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Question 20
waec2001
The upward slope of the supply curve indicates that
Amore will be supplied as price rises
Bless will be supplied as price rises
Csupply is not a function of price
Dsupply is static and demand is dynamic
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Question 21
waec2001
The responsiveness of demand to a change in income is the measurement of
Aforeign exchange rate
Bcross elasticity of demand
Cincome elasticity of demand
Dprice index elasticity
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Question 22
waec2001
If the quantity demanded of a particular commodity is represented by the function Qd = 30 - 2p, what is the quantity demanded at a price of twelve Naira?
A6 units
B8 units
C10 units
D12 units
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Question 23
waec2001
Which of the following is a luxury item?
APetrol
BTextbook
CPencil
DGold
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Question 24
waec2001
The demand for a commodity not directly for immediate consumption but for the production of another commodity is
Acompetitive demand
Bderived demand
Ccomposite demand
Djoint demand
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Question 25
waec2001
Consumer buy more of a commodity at a lower price than at a higher price because
Aproductions like to produce more
Bin a given situation people like to buy more
Cconsumers like to show off
Dwith the same amount of money they will be able to buy more
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Question 26
waec2001
The cost incurred by using both fixed and variable factors in production is called
Amarginal cost
Bfixed cost
Ctotal cost
Daverage cost
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Question 27
waec2001
Performance of one task in a production process is known as
Aspecialization
Bstandardization
Cdivision of labour
Dsegmentation
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Question 28
waec2001
Population growth can be controlled by all the following except
Alegalizing abortion
Bincentives on immigration
Cfamily planning
Dlimiting number of children per family
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Question 29
waec2001
In a country with ageing population , the total population
