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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
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56
which of these alternative is wrong? central banks are
  • A. bankers to the government
  • B. bankers to commercial banks
  • C. merchant banks
  • D. controllers and regulators of money supply
  • E. issuers of bank note
View Answer & Discuss (3) JAMB 1979
57
The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions
  • A. there are restrictions in trade
  • B. there are no cost of transportations
  • C. ther is perfect competition
  • D. there are no tariff or import and export quota
  • E. there are only two countries and only two commodities entering into international trade
View Answer & Discuss (1) JAMB 1979
58
Which of the following is not a direct tax?
  • A. company income tax
  • B. capital tax
  • C. purchase tax
  • D. personal income tax
  • E. capital gain tax
View Answer & Discuss (3) JAMB 1979
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
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59
Division of labour means
  • A. dividing the labour into different categories
  • B. splitting the process of production into different parts to be completed by each person
  • C. dividing the goods and services into different sections
  • D. assigning different duties to labourers
  • E. group of labourers working in a factory or shop
View Answer & Discuss (1) JAMB 1979
60
By utility we mean
  • A. usefulness
  • B. power of satisfying a want
  • C. beneficial
  • D. advantageous
  • E. consumable
View Answer & Discuss (7) JAMB 1979
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free