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Economics 1990 WAEC Past Questions

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21
Which of the following statements is not true of cheques? They
  • A. provide an alternative to carrying large sums of money around
  • B. can be written out for any amount needed
  • C. are legal tender
  • D. provides a form of receipt
  • E. provide a record of payment made
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22
Which of the following are not agents of distribution
  • A. Wholesalers
  • B. Retailers
  • C. Consumers
  • D. Government agencies
  • E. Cooperative societies
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23
One of the greatest demerits of the middlemen in Nigeria is that they
  • A. increase the price of goods and services at will
  • B. Sell in small units only
  • C. Store goods in warehouse that are not spacious enough
  • D. Sell on credit to retailers only
  • E. Do not advertise their goods
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24
When a business has an unlimited liability
  • A. the owner are not responsible for all its financial debts
  • B. all its profits can be taxed by the government
  • C. the owners are responsible for all its financial debts
  • D. all its assets belongs to the members of its board of directors
  • E. it ceases to exist at the death of one of its owner
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25
when a country has a large labour forvce , it is beneficial to use a method of production which is
  • A. capital intensive
  • B. land intensive
  • C. labour intensive
  • D. mechanically intensive
  • E. technically intensive
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