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1726
MUX = PX ( where X and Y = good X and Good Y; MU = Marginal Utility;P= Price)MUY = PY. The above represents the
  • A. marginal utility equation
  • B. equation for consumer dis-equulibruim
  • C. utility maximization equation
  • D. equation for total utility
  • E. equation for price elasticity
View Answer & Discuss WAEC 1996
1727
Subsistence agriculture means
  • A. cultivation for external use
  • B. cultivation for local industries
  • C. farming for the urban dwellers
  • D. cultivation for household consumption
  • E. cultivation for foreign currency
View Answer & Discuss WAEC 1996
1728
Farm produce are graded, packed and distributed by
  • A. purchasing co=operatives
  • B. agricultural co-operative banks
  • C. consumer co-operative society
  • D. marketing co-operatives
  • E. wholesale co-operatives
View Answer & Discuss (1) WAEC 1996
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1729
Localization of industries is
  • A. the industrialization of a country
  • B. the concentration of the firm of an industry in a particular area
  • C. the location of a firm at a particular locality
  • D. the economic development of a locality
  • E. governement intervention in the location of industries
View Answer & Discuss WAEC 1996
1730
Which of the following correctly illustrates the chain of distribution?
  • A. Manufacturer -> wholesaler -> retailer consumer
  • B. Consumer -> retailer -> wholesaler -> manufacturer
  • C. Wholesaler -> manufacturer -> retailer -> consumer
  • D. Distributor -> consumer -> wholesaler -> manufacturer
  • E. Producer -> manufacturer -> wholesaler -> retailer
View Answer & Discuss WAEC 1996
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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