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Economics 2013 WAEC Past Questions

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41

The main advantage of large scale production is that

  • A. unit cost of production falls
  • B. decision -making is quick
  • C. worker-managemnet relationship is improved
  • D. the quality of the product increases
View Answer & Discuss (2) WAEC 2013
42

Which of the following items is not included in measuring national income by the income approach?

  • A. Profits of companies
  • B. Rents on property
  • C. Student's grants and scholarships
  • D. Wages and salaries of public servants
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43

Gold, diamond, iron ore and limestone are collectively referred to as

  • A. human resources
  • B. mineral resources
  • C. artificial resources
  • D. forest resources
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44

Points outside a production possibility curve indicate

  • A. unattainable production levels
  • B. attainable production levels
  • C. inefficient, but attainable production levels
  • D. optimum production levels
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45

The International Bank for Reconstruction and Development (IBRD) is important to developing nations because it

  • A. gives aid for defence
  • B. offers loans for public projects
  • C. offers aid to finance private projects
  • D. gives loans for legal proceedings
View Answer & Discuss (1) WAEC 2013
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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