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Economics Past Questions and Answers

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Waec Economics Questions

Question 126:

The concentration of industries in one place is referred to as

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A Location of industries
B Multiplication of industries
C Pluralization of industries
D Proliferation of industries
E Localization of industries

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Question 127:

which of the following best describes the budget? A

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A Plan of government's needs and expenditure for a year
B Detailed estimate of government financial operation for a year
C Satisfactory balance between income and expenditure for one year
D Plan for importation of essential goods and services for one year
E Plan for control of government industries and corporations for one year

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Question 128:

Which of the following is not done by the NNPC?

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A Production of crude oil
B Refining of crude oil
C Exploration for crude oil
D Exploitation of crude oil
E Pricing of crude oil

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Question 129:

One major function of the Central Bank is to

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A Mint money
B Hold demand deposit and honour cheques
C Act as a medium of exchange
D Create money
E Control and regulate money supply

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Question 130:

Distribution involves the

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A Movement of raw materials to production centres
B Transfer of goods and services from one market to another
C Movement of goods and services by middlemen to urban centres
D Transfer of goods and services from wholesalers to consumers
E Transfer of goods and services from production centre to consumers

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