WAEC Government Past Questions & Answers - Page 180

896.

Which of the following is a feature of capitalism?

A.

Removal of social inequalities

B.

Equitable re-distribution of property

C.

Maximization of profit

D.

Protection of workers

Correct answer is C

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. 

897.

The two major factors that contributed to the development of capitalism were

A.

emergence of the Protest Reformation and paper money

B.

the emergence of Adolf Hitler and the First World War

C.

the theory of individual Rights and the Industrial Revolution in Britain

D.

the First World War and the Atlantic Charter of 1941

Correct answer is C

No explanation has been provided for this answer.

898.

Production and distribution of goods and services are controlled by the State in

A.

capitalism

B.

mixed economy

C.

socialism

D.

communalism

Correct answer is C

In a socialist state, the state controls the means of production and distribution of goods and services.

899.

Direct democracy emanated from the

A.

Greeks

B.

Romans

C.

Germans

D.

Americans

Correct answer is A

The earliest known direct democracy is said to be the Athenian democracy of Greek in the 5th century BC, although it was not an inclusive democracy in that it excluded women, slaves and non-Athenians.

900.

Political sovereignty belongs to the

A.

press

B.

people

C.

legislature

D.

executive

Correct answer is B

The political ability to exercise sovereignty. It is given by the people or citizens mostly during an election