Year :
2001
Title :
Economics
Exam :
WASSCE/WAEC MAY/JUNE
Paper 1 | Objectives
21 - 30 of 47 Questions
| # | Question | Ans |
|---|---|---|
| 21. |
Which of the following business units can issue shares? A. Sole trader B. private limited companies C. Cenyral Banks D. Super market |
B |
| 22. |
When the government initiates measures to make an organization in which it has substantial interest more profit oriented, such a business is described as being A. indigenized B. restructured C. privatized D. commercialized |
D |
| 23. |
Which of the following is not a trade union in Nigeria? A. Nigerian Labour Congress B. Academic Staff Union of Universities C. Nigerian Ecoonomic Society D. Nigerian Union of Journalists |
C |
| 24. |
The monopolist power can be controlled by the government through A. labour union B. price legislation C. import restrictions D. export promotion |
B |
| 25. |
Which of the following is not a condition for a perfect market? A. homogenous commodity B. ignorance of consumers C. perfect information D. free entry and exit |
B |
| 26. |
The reward for a shareholdership of a company is A. wages B. interest C. dividends D. profit |
C |
| 27. |
In a public corporation , the risks of business are borne by the A. workers B. tax payers C. board members D. treasury |
B |
| 28. |
One of the function of money is A. double coincidence of wants B. unit of accounts C. indivisibility D. making payment through banks only |
B |
| 29. |
Money is demanded for which of the following reasons? A. to meet unforseen contigencies B. to solve the problem of inflation C. it is easily divisible D. it is portable Detailed SolutionMoney held to cater for unforeseen circumstances is referred to as the precautionary demand for money. In this case, money is kept for use in a contingency. That is, people maintain sufficient cash balance to act as a cushion or buffer against unexpected events. |
|
| 30. |
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about A. a geometrical fall in prices B. a proportionate fall in prices C. a rise in prices D. an unequal fall in prices |
B |
| 21. |
Which of the following business units can issue shares? A. Sole trader B. private limited companies C. Cenyral Banks D. Super market |
B |
| 22. |
When the government initiates measures to make an organization in which it has substantial interest more profit oriented, such a business is described as being A. indigenized B. restructured C. privatized D. commercialized |
D |
| 23. |
Which of the following is not a trade union in Nigeria? A. Nigerian Labour Congress B. Academic Staff Union of Universities C. Nigerian Ecoonomic Society D. Nigerian Union of Journalists |
C |
| 24. |
The monopolist power can be controlled by the government through A. labour union B. price legislation C. import restrictions D. export promotion |
B |
| 25. |
Which of the following is not a condition for a perfect market? A. homogenous commodity B. ignorance of consumers C. perfect information D. free entry and exit |
B |
| 26. |
The reward for a shareholdership of a company is A. wages B. interest C. dividends D. profit |
C |
| 27. |
In a public corporation , the risks of business are borne by the A. workers B. tax payers C. board members D. treasury |
B |
| 28. |
One of the function of money is A. double coincidence of wants B. unit of accounts C. indivisibility D. making payment through banks only |
B |
| 29. |
Money is demanded for which of the following reasons? A. to meet unforseen contigencies B. to solve the problem of inflation C. it is easily divisible D. it is portable Detailed SolutionMoney held to cater for unforeseen circumstances is referred to as the precautionary demand for money. In this case, money is kept for use in a contingency. That is, people maintain sufficient cash balance to act as a cushion or buffer against unexpected events. |
|
| 30. |
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about A. a geometrical fall in prices B. a proportionate fall in prices C. a rise in prices D. an unequal fall in prices |
B |