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1996
The cost which firm will incur whether it is in production or not, is referred to as
  • A. average cost
  • B. variable cost
  • C. opportunity cost
  • D. fixed cost
View Answer & Discuss WAEC 2002
1997
The location of timber and plywood industries in West Africa is mainly influenced by the availability of
  • A. transport
  • B. water
  • C. raw materials
  • D. labour supply
View Answer & Discuss WAEC 2002
1998
The main objective of setting up private businesses is to
  • A. protect the interest of the government
  • B. maximize profits
  • C. provide infrastructure
  • D. promote exports
View Answer & Discuss WAEC 2002
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1999
small firms are important for the development of a country because
  • A. the prices of their products are usually high
  • B. they render personalized services to the consumers
  • C. they usually produce goods for the elites
  • D. they do not normally provide after sales services
View Answer & Discuss WAEC 2002
2000
A limited liability company is owned by the
  • A. president of the country
  • B. workers
  • C. general manager
  • D. shareholders
View Answer & Discuss WAEC 2002
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