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Economics 2010 WAEC Past Questions

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26

The following are advantages of large scale agriculture except

  • A. use of simple implements
  • B. use of sophisticated implements
  • C. increase in employment
  • D. integration of crops and animal farming
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27

The following are all factors determining the location of industry except

  • A. minimum wage rate
  • B. availability of labour
  • C. nearness of raw materials
  • D. proximity to the market
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28

Which of the following is not a concept in National Income Accounting?

  • A. Domestic National Products (DNP)
  • B. Gross National Product (GNP)
  • C. Gross Domestic Product (GDP)
  • D. Net Domestic Product (NDP)
View Answer & Discuss (6) WAEC 2010
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29

Which of the following equation is appropriate for determining the Net Domestic Product (NDP)?

  • A. NDP = GNP - depreciation
  • B. NDP = GDP + Net Income from abroad
  • C. NDP = GDP - depreciation
  • D. NDP = GDP * Net Income from abroad
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30

Which of the following over estimates the value of national income?

  • A. incomplete statistical data
  • B. Wrong timing of computation
  • C. changes in price of goods within the year
  • D. double counting
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