Economics Past Questions And Answers
3111
One of the major factors that brings about changes in supply is
- A. market discrimination
- B. availability of storage facilities
- C. the cost of storage
- D. incentives granted to workers
3112
Devaluation means
- A. a reduction in the value of the National currency
- B. a reduction in the purchasing power of the foreign currency
- C. a reduction in the value of the domestic currency relative to foreign currencies
- D. an increase in the value of the national currency
3113
The situation whereby government revenue is less than government expenditure is referred to as
- A. budget deficit
- B. balanced budget
- C. budget surplus
- D. budget statement
3114
Which of the following is not a function of an insurance company?
- A. Mobilization of funds through premiums collected
- B. Encouragement of savings habits through life assurances
- C. Collection of deposits from the public
- D. Granting of loans on long-term basis for investment
3115
Highlight the economic effects of high population density in Nigeria.
View Discussion (0)WAEC 1993 THEORY3116
One of the functions money is that, it helps?
- A. detect frauds in matters of exchange
- B. postponed payments without loss of count
- C. store information about the valuation of an item
- D. record information about the valuation of an item
3117
A limited liability company is owned by________________
- A. a bank
- B. an individual
- C. two or more partners
- D. share holders
3118
If the growth rate of available resources continuously outpaces that of the population, a country will eventually experience?
- A. maximum population
- B. underpopulation
- C. overpopulation
- D. optimum population
3119
One of the factors that determine the supply of agricultural produce in Nigeria is
- A. Price of substitutes
- B. Technological development
- C. Consumers choice
- D. Consumers income
3120
A major obstacle to economic development is?
- A. a rise in industrial output
- B. low farm productivity
- C. free trade
- D. ineffective trade unions