by Sunday | Nov 6 | Economics WAEC
A. export drive B. reducing tariffs C. adding to export goods D. increasing local production The Correct Answer: Option D D. increasing local production Explanation Ways to reduce the balance of payment deficit Devaluation of the exchange rate (make exports cheaper –...
by Sunday | Nov 6 | Economics WAEC
A. reduce the volume of export B. increase the demand for imports C. increase domestic money supply D. reduce the demand for imports Correct Answer: Option D D. reduce the demand for imports Explanation A rise in imports has a negative effect on the balance of trade,...
by Sunday | Nov 6 | Economics WAEC
A. Agricultural B. mining C. trading D. manufacturing Correct Answer: Option A A. Agricultural
by Sunday | Nov 6 | Economics WAEC
A. massive importation of capital goods B. intensive capital formation locally C. use of modern technology D. massive importation of consumer goods Correct Answer: Option D D. massive importation of consumer goods Explanation Activities that lead to economic growth...
by Sunday | Nov 6 | Economics WAEC
A. perfectly price inelastic B. price inelastic C. price elastic D. unitary elastic Correct Answer: Option A A. perfectly price inelastic Explanation An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic...
by Sunday | Nov 6 | Economics WAEC
A. an increase in the cost of factors inputs B. increase in the income tax rate C. increase in bank lending rates D. increasingly large budget deficit Correct Answer: Option A A. an increase in the cost of factors inputs Explanation There are five causes for...