WAEC Economics Past Questions & Answers - Page 85

421.

Use this above diagram to answer this question.

What is the median of the distribution?

A.

5

B.

4

C.

3

D.

2

Correct answer is C

sum = 2+5+2+1=10
median 10 ÷ 2 = 5th position

Re-arranging the numbers we have;
2,2,3,3,3,3,3,4,4,5
3+3 = 3
  2

422.

Use this above diagram to answer this question.

From the table, the mean of the distribution is

A.

2.2

B.

2.5

C.

3

D.

4.5

Correct answer is C

Mean refers to the mean or average that is used to derive the central tendency of the data in question. It is determined by adding all the data points in a population and then dividing the total by the number of points. The resulting number is known as the mean or the average.Thus we have;

1+2+2+2+3+4+5+5 = 24 ÷ 8 = 3

423.

Which of the following is not an effect of the discovery of mineral resources in an area?

A.

Increase in wealth

B.

Overcrowding

C.

Increase in crime rate

D.

Under population

Correct answer is D

Under population exists when a population is too small, therefore unable to fully utilise the available resource endowments. This is not an effect of the discovery mineral resources in an area, in most cases, more people move to areas with rich natural resources.

424.

The concentration of many firms of a particular industry in a particular area is known as

A.

Location of industry

B.

Amalgamation of industries

C.

Localization of industries

D.

Nationalization of industry

Correct answer is C

Localisation means the concentration of a certain industry in a particular area, locality or region. Localisation is related to the territorial division of labour, that is, specialisation by areas or regions. 

425.

Which of the following measures will not encourage industrialization in West Africa?

A.

Taking over of all forms of industries by the government

B.

Provision of social infrastructure

C.

Giving tax incentives, especially to infant industries

D.

Using tariffs to discourage the use of imported items

Correct answer is A

Taking over of all forms of industries by the government will not aid the development of industries in a country or region on a wide scale as most government owned enterprises are monopolistic in nature and are mostly characterized by low performance and yield.