by Sunday | Nov 7 | Economics WAEC
A. trade balance B. balance of payment C. term of trade D. balance on the current account Correct Answer: Option C C. term of trade Explanation Terms of trade, the relationship between the prices at which a country sells its exports and the prices paid for its...
by Sunday | Nov 7 | Economics WAEC
A. David Ricardo B. Alfred Marshal C. J. S Mill D. Adam Smith Correct Answer: Option A A. David Ricardo Explanation David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one...
by Sunday | Nov 7 | Economics WAEC
A. shortage of skilled manpower B. inadequate data for planning C. political instability D. poor identification of projects Correct Answer: Option D D. poor identification of projects Explanation Common constraints on development are high economic poverty, hunger,...
by Sunday | Nov 7 | Economics WAEC
A. Availability of manpower B. increasing population C. high rate of capital formation D. large size of market places Correct Answer: Option B B. increasing population Explanation Underdevelopment in Africa is a result of many contributing factors which include...
by Sunday | Nov 7 | Economics WAEC
A. balanced budgeting B. tax holidays C. budget deficit D. budget surplus Correct Answer: Option C C. budget deficit Explanation Fiscal policy involves the government changing tax and spending levels in order to influence the level of Aggregate Demand. To reduce...
by Sunday | Nov 7 | Economics WAEC
A. progressive B. regressive C. equitable D. proportionate Correct Answer: Option B B. regressive Explanation Indirect taxes: An indirect tax is a tax levied on goods and services rather than on income or profits. indirect taxes are regressive in nature. They are...