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Which of the following is not an argument for locating industries in rural areas?
ARural areas supply agricultural raw materials
Bthe pace of development of rural areas will be quicken
CEmployment will be for rural inhabitants
Dcapital is easily available in rural areas
ERural-urban migration will decrease
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Question 2
waec1991
Palm oil industry in located in Bendel State because the state
Aimports raw materials for the industry
Bhas a poor soil which is unsuitable for other crops
Cis a palm-tree growing area
Dgovernment does not engage in the growing of other crops
Ehas the highest demands for apl oil in Nigeria
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Question 3
waec1991
Which of the following statements is not true in an inflationary period?
Athe purchasing power diminishes
BWages rise simultaneously with prices
CMore money runs after a limited quantity of goods
DFixed income earners lose
EAggregate real demand exceeds aggregate real supply
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Question 4
waec1991
In a sole proprietorship decisions are made by the
Agovernment
Bowner
Cshareholder's conference
Dmanagement
Eboard of directors
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Question 5
waec1991
Which of the following is a public corporation?
ARoads (Nigeria) Plc
BNational Oil and Chemical Marketing Co. Plc
CUnion Bank of Nigeria Plc
DVolkswagen of Nigeria Plc
ENational Electric Power authority
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Question 6
waec1991
A tax is said to be good when
Ait yields more revenue to the state at the expense of the people's ability to pay
Bthe cost of collecting it is equal to the revenue it generates
Cit is imposed so suddenly that no one can dodge its payment
Dits payment causes minimum incovenience to the tax payer
Eit induces workers to prefer more leisure to extra work
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Question 7
waec1991
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?
AI only
BI and II only
CI and III only
DII and III only
EIII only
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Question 8
waec1991
Which of the following is a function of money? It is
Aportable
BA standard of diferred payment
Crelatively stable in value
Dgenerally acceptable
Ean easily divisible item
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Question 9
waec1991
Which of the following are direct taxes?
ASale taxes
BExcise duties
Cincome and company taxes
DTarrif duties
ECommodity taxes
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Question 10
waec1991
in the event of a limited liability company going into liquidation, each shareholder
Amay lose a maximum of the amount he has invested
Blose nothing
Closes everything including his house
Dmay have unlimited liability
Ewill lose the amount he has invested plus a proportion of his bank account
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Question 11
waec1991
The natural growth rate of a population is the
Asum of the birth rate and death rate
Bsum of the birth rate and the net immigration rate
Cbirth rate minus the death rate
Dbirth rate divided by the net immigration
Edeath rate minus the net immigration
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Question 12
waec1991
A shift of the demand curve to the right when the supply curve remains constant , implies that
Aboth price and quantity demanded will increase
Bonly price increases
Cboth price and quantity demanded will decrease
Dthe price remains constant
Ethe price falls
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Question 13
waec1991
Dumping in Economics means the selling of goods in a foreign market
Aata a price below that received in the home market
Bat a price above that received in the home market
Cat a price equal to the cost price in the home market
Din order to encourage indigenious producers
Eat a price equal to the selling price in the home market
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Question 14
waec1991
Which of the following is the approximate working agent in Nigeria?
A1 - 15
B15 - 65
C30 - 40
D40 - 65
E65 and above
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Question 15
waec1991
International trade is necessary mainly because
Ano country can live in economic isolation
Bdifferent countries are endowed with the same natural; and man-made resources
Csome countries have comparative cost advantage in the production of certain commodities
Dthe world demand for and supply od various categories of commodities is expanding very fast
Ecountries wants to build up their foreign exchange reserve
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Question 16
waec1991
A major function of the middlemen in Nigeria is the distribution of
Acommodities to all consumers regardless of income
Bcommodities to consuming centres
Ceconomic welfare facilities to all
Dwaelth to all
Eincome within the society
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Question 17
waec1991
Which of the following is not a reason why people migrate from one place to another ?
Ato find jobs and improve their standard of living
BTo live in a more suitable climate
CFor the sake of change and adventure
Dto escape from a religious. political or social situation in a country
ETo buy foreign goods for sale in their country
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Question 18
waec1991
Which of the following is not regarded as money in Economics?
ACoins
BCurrency notes
Cbank depisits
Dcheques
ENaira and Kobo
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Question 19
waec1991
A government treasury bill is a form of debt instrument which falls due for repayment after
A3 months
B9 months
C2 years
D5 years
E10 or more years
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Question 20
waec1991
if an economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvement in labour ans capital combined, the balance of 3% is usually attributed to
