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Economics 2014 WAEC Past Questions

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41

Which of the following functions of money is mostly affected during inflation?

  • A. Medium of exchange
  • B. Unit of Account
  • C. Store of value
  • D. Standard of deferred payment
View Answer & Discuss WAEC 2014
42

Precautionary motive for holding money is to

  • A. meet daily and regular transactions
  • B. take advantage of changes in the prices of goods and services
  • C. cover unforeseen events
  • D. cover expenses on house rent
View Answer & Discuss WAEC 2014
43

Which of the following measures will not encourage industrialization in West Africa?

  • A. Taking over of all forms of industries by the government
  • B. provision of social infrastructure
  • C. Giving tax incentives, especially to infant indudustries
  • D. Using tariffs to discourage the use of imported items
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44

The concentration of many firms of a particular industry in a particular area is known as

  • A. loccation of industry
  • B. amalgamation of industries
  • C. localization of industries
  • D. nationalization of industry
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45

Which of the following is not an effect of the discovery of mineral resources in an area?

  • A. increase in wealth
  • B. overcrowding
  • C. increase in crime rate
  • D. under population
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