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WAEC Economics 1998 Question 19

Question 19

Industrialisation

An appropriate industrialization strategy in an under-populated country is

  1. A.import substitution
  2. B.capital intensive
  3. C.the contract method
  4. D.the use of foreigners in factories
  5. E.labour intensive
Show the answer and explanation

Answer: B (capital intensive)

Explanation

Where labour is scarce, firms should use more machines and fewer workers (capital-intensive methods).