WAEC Past Questions and Answers - Page 102

506.

If a country wishes to discourage imports, it

A.

removes quotas

B.

encourages free trade

C.

imposes tariffs

D.

subsidizes exports

Correct answer is B

No explanation has been provided for this answer.

507.

The choice of medium used in advertising is not determined by the

A.

cost of using a particular medium

B.

age group to which the medium appeals

C.

nationality of people using the medium

D.

number of people reached by the medium

Correct answer is C

No explanation has been provided for this answer.

508.

The Money Market is the

A.

market for long term loans

B.

market for short-term loans

C.

market for government securities

D.

banking hall of commercial banks

Correct answer is B

No explanation has been provided for this answer.

509.

Which of the following is the main task of the Marketing Manager whose company has adopted the marketing concept? To

A.

identify and satisfy customer's needs

B.

maintain the company's share of the market

C.

recruit more salesmen

D.

make maximum profit

Correct answer is B

No explanation has been provided for this answer.

510.

The amount of insurance premium to be paid depends on the

A.

supply and demand of a particular company's service

B.

extent of the possible loss and the frequency of the risk

C.

number of insurance companies in a placeamount of profit to be made by the insurer

D.

amount of profit to be made by the insurer

Correct answer is C

No explanation has been provided for this answer.