Year :
1989
Title :
Economics
Exam :
WASSCE/WAEC MAY/JUNE
Paper 1 | Objectives
11 - 20 of 41 Questions
| # | Question | Ans |
|---|---|---|
| 11. |
What is the correct term for this group of exports : tractor, televisions, components, drugs and cars? A. Current account items B. Visible exports C. Capital accoutn items D. Invisible exports E. Visible imports |
B |
| 12. |
The indicator of the value of money in the market is the A. the general price level B. effective supply C. the equilibrium price D. effective demand E. consumer income |
A |
| 13. |
Mobility of labour is not affected by A. the optimum size of population B. marriage and family C. the regulation of trade unions D. the period of training E. culture and religious beliefs |
A |
| 14. |
Given that fixed cost is N500.00, variable cost N1,500.00 and output is 50 units, what will be the average cost of producing one unit? A. N2,000.00 B. N60.00 C. N50.00 D. N40.00 E. N30.00 |
D |
| 15. |
Which of the following is regarded as fixed cost? A. cost of raw material B. cost of fuel C. cost of light D. rent on land E. labour wages |
D |
| 16. |
Which of the following reasons explains the upward sloping of supply curve in a competitive market? A. Ceteris paribus, marginal cost increase as output increases B. As new firms enter the market, factor price moves up C. Firms are in business to satisfy consumers D. Marginal cost often increases in a competitive market E. Firms are in business to produce goods |
A |
| 17. |
A firm is said to be a Public Joint-Stock Company when it A. is owned by the government B. operates as a public corporation C. is a limited liability company D. sells its shares to memebers of the public E. is administered by the public |
D |
| 18. |
Which of the following factor is not important in deciding the location of an industry? A. the native language of the epople B. availabilty of suitable labour C. Source of cheap power and raw materials D. Proximity to the location of a similar industry E. proximity to the market |
A |
| 19. |
The clearing house of all commercial banks in Nigeria is the A. General Post Office B. Bnak forCommerce and Industry C. Nigerian Industrial Development Bank D. Mortgage Bank E. Central Bnak |
E |
| 20. |
One of the advantages of Sole Proprietor is that A. risks are unlimited B. technological progress is often out of reach C. shares and stocks can be issued to raise funds D. initiatives can be used in all cases E. it folds up in the case of death, lunacy or insolvency |
D |
| 11. |
What is the correct term for this group of exports : tractor, televisions, components, drugs and cars? A. Current account items B. Visible exports C. Capital accoutn items D. Invisible exports E. Visible imports |
B |
| 12. |
The indicator of the value of money in the market is the A. the general price level B. effective supply C. the equilibrium price D. effective demand E. consumer income |
A |
| 13. |
Mobility of labour is not affected by A. the optimum size of population B. marriage and family C. the regulation of trade unions D. the period of training E. culture and religious beliefs |
A |
| 14. |
Given that fixed cost is N500.00, variable cost N1,500.00 and output is 50 units, what will be the average cost of producing one unit? A. N2,000.00 B. N60.00 C. N50.00 D. N40.00 E. N30.00 |
D |
| 15. |
Which of the following is regarded as fixed cost? A. cost of raw material B. cost of fuel C. cost of light D. rent on land E. labour wages |
D |
| 16. |
Which of the following reasons explains the upward sloping of supply curve in a competitive market? A. Ceteris paribus, marginal cost increase as output increases B. As new firms enter the market, factor price moves up C. Firms are in business to satisfy consumers D. Marginal cost often increases in a competitive market E. Firms are in business to produce goods |
A |
| 17. |
A firm is said to be a Public Joint-Stock Company when it A. is owned by the government B. operates as a public corporation C. is a limited liability company D. sells its shares to memebers of the public E. is administered by the public |
D |
| 18. |
Which of the following factor is not important in deciding the location of an industry? A. the native language of the epople B. availabilty of suitable labour C. Source of cheap power and raw materials D. Proximity to the location of a similar industry E. proximity to the market |
A |
| 19. |
The clearing house of all commercial banks in Nigeria is the A. General Post Office B. Bnak forCommerce and Industry C. Nigerian Industrial Development Bank D. Mortgage Bank E. Central Bnak |
E |
| 20. |
One of the advantages of Sole Proprietor is that A. risks are unlimited B. technological progress is often out of reach C. shares and stocks can be issued to raise funds D. initiatives can be used in all cases E. it folds up in the case of death, lunacy or insolvency |
D |