by Sunday | Jan 2 | Economics WAEC
A. higher per capita income B. increase in poverty C. increased outflow of aid D. underutilization of resources Correct Answer: Option D – underutilization of resources Explanation An increase in national income without effective control of population size in a...
by Sunday | Jan 2 | Economics WAEC
A. managerial economies B. financial economies C. marketing economies D. welfare economies Correct Answer: Option C – marketing economies Explanation Marketing economies of scale is an advantage of large firms, which have a lower unit cost for advertising and...
by Sunday | Jan 2 | Economics WAEC
A. accumulate revenue for the government B. educate farmers on the pricing of cash crops C. stabilize the incomes of cash crop farmers D. provide warehousing facilities Correct Answer: Option C – stabilize the incomes of cash crop farmers Explanation The prime...
by Sunday | Jan 2 | Economics WAEC
A. seasonal unemployment B. structural unemployment C. frictional unemployment D. cyclical unemployment Correct Answer: Option C – cyclical unemployment Explanation Frictional unemployment arises when a person is in between jobs. It is also a sort of...
by Sunday | Jan 2 | Economics WAEC
A. Education and training B. Provision of welfare service C. Race and colour of workforce D. Quality of other factor inputs Correct Answer: Option C – Race and colour of workforce Explanation The factors affecting the efficiency of labour are: – Level of...
by Sunday | Jan 2 | Economics WAEC
A. an excessive budget deficit B. a reduction in standard of living C. a wider market for goods and services D. a higher dependency ratio Correct Answer: Option C – a wider market for goods and services Explanation The positive effect of the large population is...
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