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Economics Past Questions and Answers

Waec Economics Questions

Question 671:

The location of timber and plywood industries in West Africa is mainly influenced by the availability of

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A Transport
B Water
C Raw materials
D Labour supply

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Question 672:

The main objective of setting up private businesses is to

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A Protect the interest of the government
B Maximize profits
C Provide infrastructure
D Promote exports

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Question 673:

small firms are important for the development of a country because

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A The prices of their products are usually high
B They render personalized services to the consumers
C They usually produce goods for the elites
D They do not normally provide after sales services

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Question 674:

A limited liability company is owned by the

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A President of the country
B Workers
C General manager
D Shareholders

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Question 675:

The National Electrical Power Authority (NEPA) in Nigeria is a

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A Public Limited Company
B Private limited company
C Private authority
D Public corporation

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