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Economics WAEC Past Questions

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146
Palm oil industry in located in Bendel State because the state
  • A. imports raw materials for the industry
  • B. has a poor soil which is unsuitable for other crops
  • C. is a palm-tree growing area
  • D. government does not engage in the growing of other crops
  • E. has the highest demands for apl oil in Nigeria
View Answer & Discuss WAEC 1991
147
Which of the following is not an argument for locating industries in rural areas?
  • A. Rural areas supply agricultural raw materials
  • B. the pace of development of rural areas will be quicken
  • C. Employment will be for rural inhabitants
  • D. capital is easily available in rural areas
  • E. Rural-urban migration will decrease
View Answer & Discuss WAEC 1991
148
Economics is a social science because it
  • A. deals with an aspect of hman behaviour
  • B. provides people with commodity they want
  • C. deals with limited resources which have alternative uses
  • D. deals with the production of goods for present and future consumption
  • E. is related to how choice is made
View Answer & Discuss WAEC 1992
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149
Scarcity in Economics generally refers to
  • A. a period of production
  • B. hoarding of goods
  • C. monopolization of existing supply of resources
  • D. period of famine
  • E. resources being limited
View Answer & Discuss WAEC 1992
150
Opportunity cost is define as the
  • A. money cost
  • B. cost of production
  • C. real cost
  • D. variable cost
  • E. fixed cost
View Answer & Discuss WAEC 1992
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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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