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Economics 2007 WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
41
One of the advantages of capitalism is that
  • A. consumers are exploited
  • B. private iniatives is discouraged
  • C. efficient allocation of resource is assured
  • D. job security is assured
View Answer & Discuss (1) WAEC 2007
42
Which of the following contributes the highest amount of foreign exchange to the economy of West African nations?
  • A. Construction, manufacturing and banking
  • B. Shipping, trading and fishing
  • C. Power, telecommunication and sports
  • D. Extraction, farming and tourism
View Answer & Discuss WAEC 2007
43
International trade depends on the concept of?
  • A. marginal cost advantage
  • B. comparative cost disadvantages
  • C. comparative cost advantage
  • D. absolute cost
View Answer & Discuss WAEC 2007
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44
One advantages if international trade is that
  • A. countries depend on each other
  • B. it introduces variation in prices
  • C. it increases demand for foreign goods
  • D. it makes variety of goods available
View Answer & Discuss WAEC 2007
45
The practice of selling goods overseas and often below the cost of production is known as
  • A. retailing
  • B. dumping
  • C. internal trade
  • D. advertising
View Answer & Discuss WAEC 2007
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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