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Economics 1988 WAEC Past Questions

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31
External economies occur when
  • A. Industries are scattered all around
  • B. A firm decides to expand
  • C. Industries are producing below capacity
  • D. Firms compromising an industry are concentrated in one area
  • E. A firm is located near raw materials
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32
When the demand for a commodity is inelastic, who bears the greater burden of the indirect tax?
  • A. The producer
  • B. The government
  • C. The retailer
  • D. The consumer
  • E. The wholesaler
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33
Which of the following crops can be referred to as Nigeria’s current export crops?
  • A. Rubber, Groundnuts, Beniseed, cotton.
  • B. Shear butter, Sorghum, Onions.
  • C. Rubber, Cocoa, Coffee, Palm Kernel
  • D. Palm Oil, Palm Kernel, Sugarcane
  • E. Soya beans, Rice, Groundnut, and Cashew nut.
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34
The imposition of high income tax by government to cut down demand is known as
  • A. Monetary policy
  • B. Budgetary policy
  • C. Fiscal policy
  • D. Internal policy
  • E. Development policy
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35
Which of these factors does not affect revenue allocation in Nigeria?
  • A. Needs of an area
  • B. Size of the population of an area
  • C. Number of industries and land areas
  • D. Revenue derivable from an area
  • E. Development needs of the country
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts