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Economics 2012 WAEC Past Questions

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31

One of the problems facing industrial development in West African countries is

  • A. inadequate large market
  • B. inadequate infrastructure
  • C. inadequate supply of labour
  • D. unavailability of natural resources
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32

In a situation where the finished product of an industry is fragile, bulky and perishable, such an industry should be located close to its

  • A. raw materials
  • B. market
  • C. labour supply
  • D. power supply
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33

If Y = income, C = Consumption, I = Investment, X = Export and M = Import, then national income is

  • A. Y = C - I + (x +m0
  • B. Y = C + I + (x + m)
  • C. Y = C +I +(X - M)
  • D. Y =C + I + (m - x)
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34

The national income is the

  • A. Gross Domestic Product at market prices
  • B. Gross National product at factor cost
  • C. Net National Product at factor cost
  • D. Net National Product at market prices
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35

When depreciation is deducted from Gross National Product, the result is

  • A. total national income
  • B. gross domestic product
  • C. net national product
  • D. net domestic product
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