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Economics WAEC Past Questions

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1081

Which of the following is true about import substitution? it

  • A. helps in increasing exportation
  • B. is meant to reduce exportation
  • C. enables a country to curtail importation
  • D. enables a country to improve on importation
View Answer & Discuss WAEC 2012
1082

Balance of payments problem can be corrected through

  • A. increasing foreign reserves
  • B. increasing domestic borrowing
  • C. import promotion strategies
  • D. export promotion strategies
View Answer & Discuss WAEC 2012
1083

One of the reasons why government may erect a trade barrier is to

  • A. control foreign currencies
  • B. protect infant industries
  • C. promote importation
  • D. diverisify the economy
View Answer & Discuss WAEC 2012
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1084

Which of the following is not a function of the West African Development Bank?

  • A. Promotion of both private and public investments in member states
  • B. Financing and executing projects in member states
  • C. Promotion of social development of member states
  • D. harmonization of oil prices to the advantage of member states
View Answer & Discuss (7) WAEC 2012
1085
The action of government to forgo road construction in order to provide more health facilities denotes
  • A. sound economic decision
  • B. opportunity cost
  • C. practicable government policy
  • D. scale of preference
View Answer & Discuss WAEC 2013
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