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WAEC Economics 1996 Question 36

Question 36

Natural Resources and Petroleum

The petroleum industry in Nigeria is an example of a

  1. A.capital-intensive industry
  2. B.service industry
  3. C.labour-intensive industry
  4. D.tertiary production industry
  5. E.localized industry
Show the answer and explanation

Answer: A (capital-intensive industry)

Explanation

Oil exploration and refining use huge amounts of machinery and few workers, so the industry is capital-intensive.