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WAEC Economics 1994 Question 35

Question 35

Basic Concepts

Factory buildings, machinery and raw materials are known in Economics as

  1. A.personal wealth
  2. B.social wealth
  3. C.government wealth
  4. D.business wealth
  5. E.public wealth
Show the answer and explanation

Answer: D (business wealth)

Explanation

Assets used by firms for production are business wealth.