WAEC Economics Past Questions & Answers - Page 221

1,101.

Which of the following is a function of the retailer?

A.

Provision of storage facilities

B.

Financing manufacturers

C.

Stocking variety of goods

D.

Advertisement of goods

Correct answer is C

No explanation has been provided for this answer.

1,102.

The consumers cooperative society is owned by

A.

A management committee

B.

Members of the society

C.

Debenture holders

D.

The government

Correct answer is B

No explanation has been provided for this answer.

1,103.

The maximum amount of money a company is allowed to raise by issuing shares to the public is called

A.

Paid-up capital

B.

Fixed capital

C.

Working capital

D.

Authorized capital

Correct answer is D

No explanation has been provided for this answer.

1,104.

One important feature of sole proprietorship is that

A.

It is limited liability business

B.

The business is owned by shareholders

C.

One person bears all the risks

D.

It is a legal entity

Correct answer is C

No explanation has been provided for this answer.

1,105.

Public enterprises are established mainly to

A.

Provide basic amenities for the people

B.

Make goods available in the market

C.

Make profit for the government

D.

Compete with foreigners in the industrial sector

Correct answer is A

No explanation has been provided for this answer.