WAEC Economics Past Questions & Answers - Page 269

1,341.

The primary objective of Agricultural Credit Guarantee Scheme is the provision of

A.

Guarantee for loans granted by by banks for agricultural purposes

B.

Agricultural inputs to facilitate credits from banks

C.

Loans for every farmer

D.

Agricultural products for farmers

E.

Credit for farmers

Correct answer is A

No explanation has been provided for this answer.

1,342.

Which of the following function of money makes it possible for any person to provide for old age?

A.

Medium of exchange

B.

Stores of value

C.

Measures of value

D.

Unit of account

E.

Standard for deferred payment

Correct answer is B

No explanation has been provided for this answer.

1,343.

A situation of full employment exist when

A.

Every adult is employed

B.

All adults who can work are employed

C.

All persons who have attained the age of 15 years and above are employed

D.

Only the disabled are not employed

E.

All those who are able and eligible to work are employed

Correct answer is E

No explanation has been provided for this answer.

1,344.

Which of the following is true of NEPA as a public corporation in Nigeria? It is

A.

A solar energy distribution

B.

Organized in a perfectly competitive market

C.

A duopoly

D.

A monopolistically competitive industry

E.

A monopoly

Correct answer is E

No explanation has been provided for this answer.

1,345.

The concept of economics efficiency primarily implies

A.

Containing the maximum output from available resources at the lowest possible cost

B.

Conserving our petroleum resources

C.

Equity in the distribution of the nation's wealth

D.

Production without waste

E.

The limited wants

Correct answer is A

No explanation has been provided for this answer.