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1616
Price elasticity of demand is define as the
  • A. responsiveness of demand to change in price
  • B. responsiveness of price to change in demand
  • C. increase in demand resulting form a rise in price
  • D. unit decrease in price resulting from a a fall in demand
  • E. unit increase in quantity demanded when price rises
View Answer & Discuss WAEC 1993
1617
The rural area of West Africa lack industries because
  • A. rural people are not meant to work in industries
  • B. rural people are uneducated
  • C. of inadequate infrastructure
  • D. of low population density
  • E. they are not suitable for industries
View Answer & Discuss WAEC 1993
1618
An entrepreneur will locate his industry in a place
  • A. nearest to his homw town
  • B. where the cost of production will be minimized
  • C. nearest to his wife's hometown
  • D. where the government direct him to locate
  • E. where there is no other industry
View Answer & Discuss WAEC 1993
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1619
which of the following reasons is mainly responsible for the inefficient distribution of goods in West African countries?
  • A. large number of distribution companies
  • B. import and export restrictions by the government
  • C. narrow markets for commodities produced
  • D. poor transportation and communication system
  • E. large influence of foreign traders
View Answer & Discuss WAEC 1993
1620

Which of the following does not apply to private companies?

  • A. the number of shareholders is limited
  • B. the liability of shareholders is limited
  • C. accounts have to be publicized
  • D. the companies are separate legal entities
  • E. shares are not easily transferable
View Answer & Discuss (5) WAEC 1993
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts