by Sunday | Jan 2 | Economics WAEC
A. are unlimited in supply B. have high cost of production C. are free gifts of nature D. do not command any price Correct Answer: Option C – are free gifts of nature Explanation Natural resources exist naturally unlike man made resources that are created by...
by Sunday | Jan 2 | Economics WAEC
A. within the production possibility curve B. outside the production possibility curve C. along the production possibility curve D. adequate to meet market demand Correct Answer: Option A – within the production possibility curve Explanation Point inside the...
by Sunday | Jan 2 | Economics WAEC
A. will increase B. will remain constant C. may be limited to chemical industries D. will make producing countries richer Correct Answer: Option C – may be limited to chemical industries Explanation The transportation industry is the highest demand for petrol...
by Sunday | Jan 2 | Economics WAEC
A. factors of production are free to move and be moved B. common currency is in use C. common agricultural policy is in place D. the size of the market is widened Correct Answer: Option A – factors of production are free to move and be moved Explanation Economic...
by Sunday | Jan 2 | Economics WAEC
A. 0.09 B. 2.00 C. 90.00 D. 380.00 Correct Answer: Option C – 90.00 Explanation Terms of trade = Index of export/ Index of import x 100 = 180/200 x 100 = 90
by Sunday | Jan 2 | Economics WAEC
A. promote free trade and development among members B. provide loans to finance balance of payment problems C. provide loans to members to finance viable projects D. help members overcome their internal problems Correct Answer: Option C – provide loans to...
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