by Sunday | Aug 2 | Economics WAEC
A. the economy can scarcely produce anything B. human wants are limitless C. the economy has very few resources D. human wants are limited, relative to resources E. resources are limited relative to wants Correct Answer: Option E – resources are limited relative...
by Sunday | Aug 2 | Economics WAEC
A. adopts the use of laboratory experiments B. involves accurate predictions of human beings C. makes use of controlled experiment D. use scientific methods to explain observed phenomena E. deals with observation and field work Correct Answer: Option D – use...
by Sunday | Aug 2 | Economics WAEC
A. members do not reduce price below the cartel price B. each member has a fixed output above which it is not expected to produce C. a powerful member fixes the price at which others will sell D. membes fix the prices for their products Correct Answer: Option B...
by Sunday | Aug 2 | Economics WAEC
(i) increased government overseas’ spending. (ii) increasing prices of exports. (iii) rising import prices . (iv) more payment to overseas’ investors. A. i, ii and iii B. i, ii and iv C. i, ii, iii and vi D. i, ii, iii and iv Correct Answer: Option C...
by Sunday | Aug 2 | Economics WAEC
A. Economic Community of West Africa States B. International Monetary Fund C. International Bank for Reconstruction and Development D. African Develoment Bank Correct Answer: Option B – International Monetary Fund
by Sunday | Aug 2 | Economics WAEC
A. goods and services are exchanged in a manner similar to barter B. goods and services are sold on the counter C. crude oil is sold to a foreign country D. goods are shipped to countries on which the United Nations has placed a trade embargo Correct Answer: Option A...