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Economics Past Questions

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1831
The level of economic development is low in Nigeria because
  • A. planning has nopractical relevance
  • B. of the pattern of the consumers' spending
  • C. the country is too large
  • D. of ineffective plan implementation
  • E. there is no unique planning model
View Answer & Discuss WAEC 1998
1832
The stability of Nigerian economy depends mainly on the export price of
  • A. groundnut
  • B. cotton
  • C. cocoa
  • D. mineral oil
  • E. palm kernel
View Answer & Discuss (2) WAEC 1998
1833
Which of the following countries is a major trading partner of Nigeria?
  • A. Britain
  • B. Canada
  • C. Japan
  • D. Germany
  • E. China
View Answer & Discuss (1) WAEC 1998
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1834
The instrument used in many countries to restrict imports includes
  • A. high tarrifs
  • B. price index
  • C. excise duties
  • D. bank rate
  • E. subsidies
View Answer & Discuss WAEC 1998
1835
The economic system in which the decision s about what to produce , how to produce and for whom to produce are made by private firms is called
  • A. socialism
  • B. Welfarism
  • C. communism
  • D. capitalism
  • E. traditionalism
View Answer & Discuss WAEC 1998
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