by Sunday | Nov 8 | Economics WAEC
A. Collective ownership of productive resources B. Freedom of enterprise C. production is not based on the profit motive D. Maximization of public welfare Correct Answer: Option A A. Collective ownership of productive resources Explanation The main feature of...
by Sunday | Nov 8 | Economics WAEC
A. determined by the forces of demand and supply B. driven by profit motive C. determined by consumers D. the responsibility of the state’s bureaucrats Correct Answer: Option D D. the responsibility of the state’s bureaucrats Explanation A centrally...
by Sunday | Nov 8 | Economics WAEC
A. high level of illiteracy B. irregular power supply C. population growth D. resource allocation Correct Answer: Option D D. resource allocation Explanation The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare...
by Sunday | Nov 8 | Economics WAEC
A. production is inadequate B. resources have alternative uses C. new wants always rise D. resources are limited Correct Answer: Option C C. new wants always rise Explanation It means that people never get enough, that there’s always something else that they...
by Sunday | Nov 8 | Economics WAEC
A. easy access to long term loans B. management of foreign exchange C. mediating in labour dispute D. financing balance of payment deficit Correct Answer: Option A A. easy access to long term loans Explanation The World Bank is a vital source of financial and...
by Sunday | Nov 8 | Economics WAEC
A. reduce tariffs B. increase subsidies on exports C. increase tax on local industries D. reduce personal income tax Correct Answer: Option B B. increase subsidies on exports Explanation Methods of correcting the adverse balance of payments Well- known Methods of...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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