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Economics 1988 WAEC Past Questions

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16
The two largest producers of crude oil in Nigeria are
  • A. Borno and Ondo States
  • B. Oyo and Bendel States
  • C. Kwara and Benue States
  • D. Rivers and Bendel States
  • E. Niger and Rivers States
View Answer & Discuss (2) WAEC 1988
17
Nigerian indigenization decree was promulgated in order to
  • A. Allow indigenes to have the full participation in the economic activities of the country
  • B. Drive away foreigners
  • C. Give equal chances to indigenes and foreigners in making economic decisions in the country
  • D. Give industrial training to indigenes
  • E. Indigenes expose the economic activities of the country
View Answer & Discuss WAEC 1988
18
An economic system in which most capital goods are owned by individuals and private firms is known as
  • A. Mixed economy
  • B. Planned economy
  • C. Capitalist economy
  • D. Traditional economy
  • E. Civilized economy
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19
Which of the following is not a feature of Sole Proprietorship?
  • A. The Sole Proprietor provides the capital to start the business
  • B. The Sole Proprietor is the boss of his business
  • C. There is unlimited liability
  • D. Continuity is doubtful at the death of the proprietor
  • E. Decision can be taken only by ten people
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20
The International Bank of Reconstruction and Development (IBRD) is important to the developing nations because it
  • A. Gives loans to member s for legal proceedings
  • B. Offer grants and aids for defense
  • C. Enhances financial relationship among countries
  • D. Offer soft loans for educational and health services
  • E. Offer grants and aid to finance private projects
View Answer & Discuss WAEC 1988
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