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Economics WAEC Past Questions

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1251

which of the following factors is not a reason for farmer's unstable incomes

  • A. dependence on too many crops
  • B. poor storage facilities
  • C. adverse weather condition
  • D. recession in the world economy
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1252

local firms can help in reducing unemployment in a country when?

  • A. land acquisition becomes centralized
  • B. imports of substitutes are reduced
  • C. waste in the firm is eliminated
  • D. subsidies to firms are decreased
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1253

an industry is described as a group of firms

  • A. that provides jobs for many people
  • B. which uses advance technology in production
  • C. which produces similar products
  • D. that provides jobs for few people
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1254

The largest component of national income in developing countries consist of?

  • A. profits
  • B. profit and rent
  • C. rent
  • D. wages and salaries
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1255

A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. the value added by the baker is?

  • A. $302.00
  • B. $52.00
  • C. $18.00
  • D. $622.00
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