Paper 1 | Objectives | 47 Questions
WASSCE/WAEC MAY/JUNE
Year: 2001
Level: SHS
Time:
Type: Question Paper
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# | Question | Ans |
---|---|---|
1. |
Economic problems arises because A. resource are scarce relative to wants B. man is insatiable C. money is scarce D. man engages in too many economic activities |
A |
2. |
The economic system in which resource are privately owned dis known as A. Capitalism B. Socialism C. communism D. unitarism |
A |
3. |
Quasi-rent refers to A. payment made on aquisition of a firm's premises B. payment made for the procurement of tools and equipments C. returns on investment D. payments made on any factors of production that is temporaly fixed in supply |
D |
4. |
Reward for entrepreneurship is A. rent B. wages C. interest D. profit |
D |
5. |
Which of the following is the function of an entrepreneur? A. Avoidance of risks B. decision making C. employment control D. Organizing unions |
B |
6. |
The difference between the highest and lowest in a set of data is A. range B. median C. variance D. mode |
A |
7. |
In which of the following economic system is the consumer referred to as the king? A. Capitalist economy B. socialist economy C. communist economy D. Mixed economy |
A |
8. |
The dispersal of people in a country is called A. mobility of people B. geographical distribution C. occupational distribution D. state distribution |
B |
9. |
In a country with ageing population , the total population A. comprises young school leavers only B. comprises mainly women C. is increasing at a low rate D. has reached the optimum level |
C |
10. |
Population growth can be controlled by all the following except A. legalizing abortion B. incentives on immigration C. family planning D. limiting number of children per family |
B |
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