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Economics WAEC Past Questions

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556
Which of the following is a major barrier to international trade?
  • A. religious differences amongst nations
  • B. uneve distribution of population across the world
  • C. educational imbalace between the developed and developing countries
  • D. ideological differences amongst nations
View Answer & Discuss WAEC 2001
557
A country is economically rich if
  • A. If there is a lot of money in circulation relative to its population
  • B. It has a large volume of goods and services relative to its population
  • C. It has a large reserve of idle skilled manpower
  • D. There is a large amount of reserved mineral resources
View Answer & Discuss WAEC 2001
558
The main role of the Organization of Petroleum Exporting Countries (OPEC) is
  • A. fixing oil production levels
  • B. ensuring optimum production of oil
  • C. promoting efficiency in the management of oil
  • D. supply oil at affordable rates
View Answer & Discuss (2) WAEC 2001
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559
Economics is best described as the study of
  • A. the wealth of nations
  • B. how man consume his products
  • C. how man provides for his everyday needs
  • D. the distribution of wealth
View Answer & Discuss (2) WAEC 2002
560
The most frequent occurring value in a given data is the
  • A. mode
  • B. median
  • C. mean
  • D. range
View Answer & Discuss WAEC 2002
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