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391
An appropriate industrialization strategy in an under-populated country is
  • A. import substitution
  • B. capital intensive
  • C. the contract method
  • D. the use of foreigners in the factories
  • E. labour intensive
View Answer & Discuss WAEC 1998
392
The power of trade union may be weakened when there is
  • A. optimum population
  • B. a weak government in power
  • C. over population
  • D. a civilian government in power
  • E. under-population
View Answer & Discuss WAEC 1998
393
Malthus' contention is that
  • A. population increase in arithmetic progression while food production increased in geometric progresion
  • B. population increased in geometric progression whil food production increased in arithmetic progression
  • C. population and food growth rate will, in future, be at par
  • D. nations have to get enough manpower to cultivate available land for food
  • E. output from agriculture decreased as more and more of the poorer lands were brought into cultivation
View Answer & Discuss WAEC 1998
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394
The problem of small markets in West Africa can be solved through
  • A. separate planning among the West African countries
  • B. meaningful- co-operation among the West African countries
  • C. political stability in West Africa
  • D. imposing of high tarrifs on West African exports
  • E. the central banks of West African countries
View Answer & Discuss WAEC 1998
395
An imperfect competitor is in equilibrium when
  • A. Marginal cost (MC) is equal to Marginal Revenue (MR)
  • B. Marginal Revenue (MR) equal to Price (P)
  • C. Average Revenue(AR) is equal to Average Cost (AC)
  • D. Output (Q) is equal to Average Revenue (AR)
  • E. Average Revenue (AR) is equal to Marginal Revenue (MR)
View Answer & Discuss WAEC 1998
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