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Economics WAEC Past Questions

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116
The country that makes the largest contribution to the IMF is
  • A. The USA
  • B. Britain
  • C. West Germany
  • D. France
  • E. Norway
View Answer & Discuss WAEC 1990
117
The price system refers to the system by which
  • A. the government controls price in the economic system
  • B. prices tends to rise to a general level
  • C. price allocates resources between consumer and producer goods
  • D. government allocate resources to consumers and producers
  • E. the producers fix the price for their products
View Answer & Discuss WAEC 1991
118
Choice is necessary because resources
  • A. are available
  • B. can be found everywhere
  • C. are constant
  • D. are scarce
  • E. are unlimited
View Answer & Discuss WAEC 1991
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119
Agriculture plays a dominant role in West African economies because
  • A. the Green Revolution in Nigeria is agricultural
  • B. it supplies all the food stuffs consumed in Ghana alone
  • C. there are large plantation of cocoa, groundnut and oil palm in West Africa
  • D. it is the main source of revenue in Sirera Leon alone
  • E. it emplys more than 50% of the total labour force in West Africa
View Answer & Discuss WAEC 1991
120
The monetary system that requires a double coincidence of wants is known as the
  • A. gold standard
  • B. barter system
  • C. commodity system
  • D. gold exchange standard
  • E. cheque system
View Answer & Discuss WAEC 1991
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