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3686

The export of west A frican countries are mostly composed of

  • A. service
  • B. raw materials
  • C. manufactured goods
  • D. consumer goods
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3687

A concious effort of government to achieve a specific set of goals is?

  • A. economic planning
  • B. economic development
  • C. economic growth
  • D. economic target
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3688

A country has favourable terms of trade when the prices of her 

  • A. exports rises relative to the price of her imports
  • B. exports falls relative to the price of her imports
  • C. imports rise faster than the prices of imports
  • D. imports and exports move in the same direction
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3689

The abolition of all forms of trade barriers among member countries while maintaining common external tariffs against non members is a feature of a

  • A. free trade
  • B. custom union
  • C. common market
  • D. economic union
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3690

In order to correct adverse balance of payments problem, government should? 

  • A. reduce tariffs
  • B. increase subsidies on exports
  • C. increase tax on local industries
  • D. reduce personal income tax
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709