by Sunday | Nov 8 | Economics WAEC
A. sound economic decision B. opportunity cost C. practicable government policy D. scale of preference Correct Answer: Option B B. opportunity cost
by Sunday | Nov 8 | Economics WAEC
A. increase in wealth B. overcrowding C. increase in crime rate D. under-population Correct Answer: Option D D. under-population Explanation Under population exists when a population is too small, therefore unable to fully utilize the available resource endowments....
by Sunday | Nov 8 | Economics WAEC
A. location of industry B. amalgamation of industries C. localization of industries D. nationalization of industry Correct Answer: Option C C. localization of industries Explanation Localization means the concentration of a certain industry in a particular area,...
by Sunday | Nov 8 | Economics WAEC
A. Taking over all forms of industries by the government B. provision of social infrastructure C. Giving tax incentives, especially to infant industries D. Using tariffs to discourage the use of imported items Correct Answer: Option A A. Taking over all forms of...
by Sunday | Nov 8 | Economics WAEC
A. meet daily and regular transactions B. take advantage of changes in the prices of goods and services C. cover unforeseen events D. cover expenses on house rent Correct Answer: Option C C. cover unforeseen events Explanation Precautionary motive:- A desire to hold...
by Sunday | Nov 8 | Economics WAEC
A. Medium of exchange B. Unit of Account C. Store of value D. Standard of deferred payment Correct Answer: Option C C. Store of value Explanation Inflation erodes the value of money:- it does not keep its value. Something that costs a certain amount today will cost...