by Sunday | Nov 6 | Economics WAEC
A. will be composed of goods produced by women B. figures will be grossly over-stated C. statistics will be difficult to calculate D. figures will be grossly under-stated Correct Answer: Option D D. figures will be grossly under-stated Explanation The national income...
by Sunday | Nov 6 | Economics WAEC
A. $302.00 B. $52.00 C. $18.00 D. $622.00 Correct Answer: Option C C. $18.00 Explanation floor = $250 distribution cost = $52 250 + 52 = 302 selling price $320 – $302 = $18
by Sunday | Nov 6 | Economics WAEC
A. profits B. profit and rent C. rent D. wages and salaries Correct Answer: Option D D. wages and salaries Explanation The largest component of national income is compensation of employees. (wages and salaries). National income measures: the market value or cost of...
by Sunday | Nov 6 | Economics WAEC
A. that provides jobs for many people B. which uses advance technology in production C. which produces similar products D. that provides jobs for few people Correct Answer: Option C C. which produces similar products Explanation An industry is a group of manufacturers...
by Sunday | Nov 6 | Economics WAEC
A. land acquisition becomes centralized B. imports of substitutes are reduced C. waste in the firm is eliminated D. subsidies to firms are decreased Correct Answer: Option B B. imports of substitutes are reduced Explanation Import substitution is a trade and economic...
by Sunday | Nov 6 | Economics WAEC
A. dependence on too many crops B. poor storage facilities C. adverse weather condition D. recession in the world economy Correct Answer: Option A A. dependence on too many crops