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561
Subsistence production means that goods and services are
  • A. produced for consumption only
  • B. sold to others
  • C. sold in the country
  • D. produced for the market
View Answer & Discuss WAEC 2002
562
Warehouse facilities in the distribution and marketing of products are provided by
  • A. manufacturer
  • B. wholesaler
  • C. retailer
  • D. advertisers
View Answer & Discuss WAEC 2002
563
Which of the following is a reward to a factor of production?
  • A. interest
  • B. donation
  • C. gifts
  • D. subsidy
View Answer & Discuss WAEC 2002
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564
Land is a factor of production because it
  • A. is a free gift of nature
  • B. contains valuable mineral resources
  • C. assits in the creation of utility
  • D. is owned by individuals and governments
View Answer & Discuss WAEC 2002
565
One of the advantages of large scale production is that
  • A. there is a rise in the cost of administration
  • B. consumers sacrtifice their indidvidual tatstes
  • C. the firm can use labour-saving machinery
  • D. the demand for a firm's product becomes localized
View Answer & Discuss (1) WAEC 2002
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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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