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1756
The United Nation Conference on Trade and Development (UNCTAD) is a forum designed specifically for discussing the
  • A. political conflicts in the United Nation Security Council
  • B. educational needs of the developed countires
  • C. religious affairs in the Southern Africa
  • D. revenue allocation in Nigeria
  • E. better terms of trade in the world
View Answer & Discuss WAEC 1996
1757
The International Monetary Fund (IMF) is an international organization which
  • A. gives annual grants to all developing countries
  • B. assist countries to solve their balance of payment problems
  • C. execute their development projects
  • D. help to promote regional economic groupings
  • E. is owned by all developed countries
View Answer & Discuss WAEC 1996
1758
An economic system in which most means of production are owned and controlled by the State is known as a
  • A. socialist economy
  • B. capitalist economy
  • C. mixed economy
  • D. political economy
  • E. feudal economy
View Answer & Discuss WAEC 1996
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1759
Economics is often described as a science because it
  • 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
View Answer & Discuss WAEC 1997
1760
Scarcity in Economics means that
  • A. the economy can scarecely 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
View Answer & Discuss WAEC 1997
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