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Economics 1994 WAEC Past Questions

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21
Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he has . If Mr. Idowu buys the television , the refrigerator would be regarded as the
  • A. marginal cost
  • B. inferior item
  • C. opportunity cost
  • D. supplementary item
  • E. prime cost
View Answer & Discuss WAEC 1994
22
Petro-chemicals industries are located in River State of Nigeria due to the presence of
  • A. a favourable climate
  • B. coal deposits
  • C. oil palm products
  • D. an undullating terrain
  • E. oil deposits
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23
Foreign exchange control in Nigeria is enforced by the
  • A. Commercial banks
  • B. Merchant banks
  • C. Mortgage banks
  • D. Central banks
  • E. Agricultural development banks
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24
The difference between the number of immigrants and emigrants is
  • A. internal mobility
  • B. internal migration
  • C. net migration
  • D. marginal migration
  • E. external migration
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25
Risk bearing and managerial control are the main function of the
  • A. managing director
  • B. manager
  • C. entrepreneur
  • D. chief excecutive
  • E. chief accountant
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