Year :
1994
Title :
Economics
Exam :
WASSCE/WAEC MAY/JUNE
Paper 1 | Objectives
1 - 10 of 35 Questions
| # | Question | Ans |
|---|---|---|
| 1. |
The definition of economics as 'the science which studies human behaviuor as a relationship between ends and scarce means which have alternative uses' was given by A. Adam Smith B. David Ricardo C. Lionel Robbins D. Mtithus E. Robert Giffen |
C |
| 2. |
The concept of economics efficiency primarily implies A. containing the maximum output from available resources at the lowest possible cost B. conserving our petroleum resources C. equity in the distribution of the nation's wealth D. production without waste E. the limited wants unlimited resources dilemma |
A |
| 3. |
Which of the following is true of NEPA as a public corporation in Nigeria? It is A. a solar energy distribution B. organized in a perfectly competitive market C. a duopoly D. a monopolistically competitive industry E. a monopoly |
E |
| 4. |
A situation of full employment exist when A. every adult is employed B. all adukts who can work are employed C. all persons who have attained the age of 15 years and above are employed D. only the disabled are not employed E. all those who are able and eligible to work are employed |
E |
| 5. |
Which of the following function of money makes it possible for any person to provide for old age? A. medium of exchange B. stores of value C. measures of value D. unit of account E. standard for deferred payment |
B |
| 6. |
The primary objective of Agricultural Credit Guarantee Scheme is the provision of A. guarantee for loans granted by by banks for agricultural purposes B. agricultural inputs to facilitate credits from banks C. loans for every farmer D. agricultural products for farmers E. credit for farmers |
A |
| 7. |
Which of the following is not an advantage of localization of industries ? A. enjoyment of externa economies B. development of subsidiary industries C. development of organized markets D. growth of conurbation E. growth of farms |
D |
| 8. |
Which of the following is not an advantage of government ownership of enterprises? A. more capital is provided B. pricing policy may be in the interest of consumers C. Government workers may be indifferent towards the public D. infrastructure are rapidly developed E. incomes may be more evenly distributed |
C |
| 9. |
If the foreign exchange rate is N80 to £1, then a bicycle bought for £40 will cost A. N15.00 B. N60.00 C. N100.00 D. N250.00 E. N320.00 |
E |
| 10. |
The central banks controls commercial banks through all the following measures except A. The uses of directives B. The use of bank rate C. Open market operations D. Accepting deposits E. Demanding special deposits |
D |
| 1. |
The definition of economics as 'the science which studies human behaviuor as a relationship between ends and scarce means which have alternative uses' was given by A. Adam Smith B. David Ricardo C. Lionel Robbins D. Mtithus E. Robert Giffen |
C |
| 2. |
The concept of economics efficiency primarily implies A. containing the maximum output from available resources at the lowest possible cost B. conserving our petroleum resources C. equity in the distribution of the nation's wealth D. production without waste E. the limited wants unlimited resources dilemma |
A |
| 3. |
Which of the following is true of NEPA as a public corporation in Nigeria? It is A. a solar energy distribution B. organized in a perfectly competitive market C. a duopoly D. a monopolistically competitive industry E. a monopoly |
E |
| 4. |
A situation of full employment exist when A. every adult is employed B. all adukts who can work are employed C. all persons who have attained the age of 15 years and above are employed D. only the disabled are not employed E. all those who are able and eligible to work are employed |
E |
| 5. |
Which of the following function of money makes it possible for any person to provide for old age? A. medium of exchange B. stores of value C. measures of value D. unit of account E. standard for deferred payment |
B |
| 6. |
The primary objective of Agricultural Credit Guarantee Scheme is the provision of A. guarantee for loans granted by by banks for agricultural purposes B. agricultural inputs to facilitate credits from banks C. loans for every farmer D. agricultural products for farmers E. credit for farmers |
A |
| 7. |
Which of the following is not an advantage of localization of industries ? A. enjoyment of externa economies B. development of subsidiary industries C. development of organized markets D. growth of conurbation E. growth of farms |
D |
| 8. |
Which of the following is not an advantage of government ownership of enterprises? A. more capital is provided B. pricing policy may be in the interest of consumers C. Government workers may be indifferent towards the public D. infrastructure are rapidly developed E. incomes may be more evenly distributed |
C |
| 9. |
If the foreign exchange rate is N80 to £1, then a bicycle bought for £40 will cost A. N15.00 B. N60.00 C. N100.00 D. N250.00 E. N320.00 |
E |
| 10. |
The central banks controls commercial banks through all the following measures except A. The uses of directives B. The use of bank rate C. Open market operations D. Accepting deposits E. Demanding special deposits |
D |