Waec 1991 Economics Past Questions And Answers
1
A shift of the demand curve to the right when the supply curve remains constant , implies that
- A. both price and quantity demanded will increase
- B. only price increases
- C. both price and quantity demanded will decrease
- D. the price remains constant
2
Which of the following statements is not true in an inflationary period?
- A. the purchasing power diminishes
- B. Wages rise simultaneously with prices
- C. More money runs after a limited quantity of goods
- D. Aggregate real demand exceeds aggregate real supply
3
The natural growth rate of a population is the
- A. sum of the birth rate and death rate
- B. sum of the birth rate and the net immigration rate
- C. birth rate minus the death rate
- D. birth rate divided by the net immigration
4
A tax is said to be good when
- A. it yields more revenue to the state at the expense of the people's ability to pay
- B. the cost of collecting it is equal to the revenue it generates
- C. it is imposed so suddenly that no one can dodge its payment
- D. its payment causes minimum incovenience to the tax payer
5
Explain the factors that affect the supply of labour in Nigeria.
View Discussion (0)WAEC 1991 THEORY6
In the event of a limited liability company going into liquidation, each shareholder
- A. may lose a maximum of the amount he has invested
- B. lose nothing
- C. loses everything including his house
- D. may have unlimited liability
7
Discuss five contributions made by agriculture to the industrial development of Nigeria.
View Discussion (0)WAEC 1991 THEORY8
Which of the following is a function of money? It is
- A. portable
- B. A standard of diferred payment
- C. relatively stable in value
- D. generally acceptable
9
Which of the following is not a reason why people migrate from one place to another ?
- A. to find jobs and improve their standard of living
- B. To live in a more suitable climate
- C. For the sake of change and adventure
- D. To buy foreign goods for sale in their country
10
Which of the following is not a feature of Sole Proprietorship?
- A. The Sole Proprietor provides the capital to start the business
- B. The Sole Proprietor is the boss of his business
- C. There is unlimited liability
- D. Decision can be taken only by ten people