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...