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Economics 1997 WAEC Past Questions

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36
Free Trade means
  • A. producers are free to determine their prices
  • B. market forces are allowed to determine prices
  • C. non-restriction of international trade
  • D. goods are to be sold free of charge
  • E. people are free to buy in foreign countries
View Answer & Discuss WAEC 1997
37
In a public company , entrepreneural function are performed by the
  • A. workers
  • B. shareholders
  • C. creditors
  • D. board of directors
  • E. chairman
View Answer & Discuss WAEC 1997
38
Term of trade is the
  • A. ratio of capital movement to export movements
  • B. ratio of import to short-term export
  • C. difference between export and import
  • D. ratio of short-term capital movement to long-term capital movements
  • E. ratio of index of export prices to index of import prices
View Answer & Discuss (3) WAEC 1997
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39
Tariff can be define as a compulsory levy on
  • A. goods that are produced and consumed locally
  • B. foreign exchange earnings
  • C. imported but inferior goods
  • D. foreigners working in a country
  • E. imports and exports
View Answer & Discuss WAEC 1997
40
international trade is different from internal trade because of the
  • A. manufactured goods involved
  • B. currency differentials
  • C. homogeinty of products
  • D. heterogeinty of products
  • E. uniformity of prices
View Answer & Discuss WAEC 1997
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