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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1836
A major setback in any mixed economy is
  • A. that is combined both the capitalist and socialist systems
  • B. the freedom of choice in the production and consumption of goods and services
  • C. that government intervenes to secure full utilization of resources
  • D. that economy decisions are determined by market forces
  • E. that the absence of profit motive in the public sector may reduce incentives for hard work
View Answer & Discuss WAEC 1998
1837
The money payment made to owners of land and labour are
  • A. rent and wages
  • B. interst and profits
  • C. wages and interest
  • D. didvidends and salary
  • E. tax
View Answer & Discuss WAEC 1999
1838
The price elasticity of coefficient indicates
  • A. how far business can reduce cost
  • B. the degree of competition
  • C. the extent to which curve shifts
  • D. consumer responsiveness to price changes
  • E. none of the above
View Answer & Discuss (1) WAEC 1999
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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1839
every society strive to pursue all the following economic objectives except
  • A. increase production
  • B. price stability
  • C. an inequitable distribution of income
  • D. sustainable growth and income
View Answer & Discuss (3) WAEC 1999
1840
which of the following best describes capital as a factor of production?
  • A. a natural resources found everywhere
  • B. a stock of physical assets used for production
  • C. the organization of human and material resources for production
  • D. resources used in training labour
View Answer & Discuss WAEC 1999
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