by Sunday | Nov 8 | Economics WAEC
A. trade sector B. tertiary sector C. primary sector D. secondary sector Correct Answer: Option C C. primary sector Explanation Primary sector:- the sector of the economy concerned with or relating to primary industry. Examples include mining, quarrying, farming,...
by Sunday | Nov 8 | Economics WAEC
A. money in the vaults of commercial banks B. currency and coins in circulation C. money with face value higher than its material content D. coins and notes made of poor quality material Correct Answer: Option C C. money with face value higher than its material...
by Sunday | Nov 8 | Economics WAEC
A. includes income of foreigners B. includes income of citizens C. includes depreciation D. excludes depreciation Correct Answer: Option B B. includes income of citizens Explanation In national income accounting, net national income (NNI) is net national product (NNP)...
by Sunday | Nov 8 | Economics WAEC
A. availability of raw material B. existence of other firms C. nearness to the source of money supply D. government policy Correct Answer: Option B B. existence of other firms Explanation Industrial locations are complex in nature. These are influenced by the...
by Sunday | Nov 8 | Economics WAEC
A. depreciation B. transfer payment C. net income from abroad D. direct taxes Correct Answer: Option C C. net income from abroad Explanation The most important distinguishing point between these two is that while we calculate GDP, we take into consideration whatever...