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Economics WAEC Past Questions

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371
Tariff can be define as a compulsory levy on
  • A. goods that are produced and consumed locally
  • B. foreign exchange earnings
  • C. imported but inferior goods
  • D. foreigners working in a country
  • E. imports and exports
View Answer & Discuss WAEC 1997
372
international trade is different from internal trade because of the
  • A. manufactured goods involved
  • B. currency differentials
  • C. homogeinty of products
  • D. heterogeinty of products
  • E. uniformity of prices
View Answer & Discuss WAEC 1997
373
which of the following is not a visible item in international trade payments?
  • A. payments for imported cars
  • B. receits from cocoa exports
  • C. receipts from oil exports
  • D. payments for steel imports
  • E. payments to foreign shipping companies
View Answer & Discuss WAEC 1997
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374
the study of Economics enables the individuals to
  • A. be misserly in the spending of his money
  • B. derive maximum satisfaction from the money he spends
  • C. determines the right market to visit
  • D. avoids purchase of luxurious items
  • E. derive solution to all problems
View Answer & Discuss WAEC 1998
375
one way of solving the problem of scarcity that faces the individuals is for
  • A. the government to import goods massively so that the citizen can get all they want
  • B. them to work very hard so that they are able to buy all their wants
  • C. them to choose between alternative since they cannot meet all their wants
  • D. the government to study people's behaviour in order to know their wants
  • E. them to use their resources as they want
View Answer & Discuss WAEC 1998
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