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Economics Past Questions and Answers

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Waec Economics Questions

Question 241:

The rural area of West Africa lack industries because

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A Rural people are not meant to work in industries
B Rural people are uneducated
C Of inadequate infrastructure
D Of low population density
E They are not suitable for industries

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Question 242:

An entrepreneur will locate his industry in a place

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A Nearest to his homw town
B Where the cost of production will be minimized
C Nearest to his wife's hometown
D Where the government direct him to locate
E Where there is no other industry

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Question 243:

which of the following reasons is mainly responsible for the inefficient distribution of goods in West African countries?

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A Large number of distribution companies
B Import and export restrictions by the government
C Narrow markets for commodities produced
D Poor transportation and communication system
E Large influence of foreign traders

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Question 244:

which of the following does not apply to private companies?

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A The number of shareholders is limited
B The liability of shareholders is limited
C Accounts have to be publicized
D The companies are separate legal entities
E Shares are not easily transferable

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Question 245:

In , Economics the reward for labour is in the form of

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A Wages
B Profit
C Rent
D Dividends
E Interest

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