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Economics 2006 WAEC Past Questions

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36
which of the following agricultural system is mainly for the cultivation of food crops for family consumption?
  • A. Co-operative farming
  • B. Commercial farming
  • C. Subsistence farming
  • D. Plantation farming
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37
Agriculture is important to the economy of West African countries because it is the source of
  • A. power
  • B. equipment supply
  • C. industrial input
  • D. technological progress
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38
The economic system in which the state takes the economic decision s through detailed planning is
  • A. Capitalism
  • B. socialism
  • C. traditional economic system
  • D. mixed economic system
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39
A mixed economy combines the characteristics of both
  • A. planned and capitalist economies
  • B. exchange and subsistence economies
  • C. subsistence and planned economies
  • D. capital and exchange economies
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40
In a rapidly growing economy, a change in technology which is labour saving is likely to cause
  • A. residual unemployment
  • B. structural unemployment
  • C. disguised unemployment
  • D. frictional unemployment
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