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41
Which of the following activities of government precludes the existence of a market economy?
  • A. The imposition of taxes
  • B. The control of the location of industry
  • C. The central planning of production
  • D. The fixing of maximum price for all necessities
  • E. The establishment of law requiring the registration of business firms
View Answer & Discuss (2) JAMB 1978
42
Which of the following is NOT strictly included In the study of economics?
  • A. The study of wants
  • B. The study of choice
  • C. Whether a particular want satisfies a good or bad purpose
  • D. The study of scarcity
  • E. The study of substitution
View Answer & Discuss (2) JAMB 1978
43
Which of these would NOT increase population of a country
  • A. Increase in death rate
  • B. Decrease in birth rate
  • C. Emigration
  • D. Migration
  • E. Better medical facilities
View Answer & Discuss (10) JAMB 1978
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
44
The optimum population of a country is reached when
  • A. All factor of production have been fully employed
  • B. The productive effort per man is at its highest with a given volume of resources
  • C. The total population of a country increases
  • D. The natural resources of a country increases
  • E. The working population of a country increases
View Answer & Discuss (4) JAMB 1978
45
In economics, production is complete when
  • A. Goods are produced in the factory
  • B. Goods are sold to the wholesalers
  • C. Goods and services are produced by the government
  • D. Prices are fixed for goods and services
  • E. Goods and services finally reach the consumer
View Answer & Discuss (1) JAMB 1978
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