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4366

A customs union is an economic grouping which has___________

  • A. free movement of factors of production
  • B. common tariffs against non-Members.
  • C. common currency for trading
  • D. common military defence
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4367

Balance of payments and trade problems that arose after the world wars were resolved by the____________

  • A. International Bank tor Reconstruction and Development.
  • B. International Monetary Fund.
  • C. African Development Bank.
  • D. Organization of Petroleum Exporting Countries.
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4368

Examples of land that are non-renewable include___________

  • A. marshy and water-logged land.
  • B. farmland already used tor many years.
  • C. some natural resources such as natural gas.
  • D. oxygen and carbon dioxide in the atmosphere
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4369

Abundant natural resources do not contribute to economic growth in developing countries because of_________

  • A. high rate of inflation
  • B. urban congestion.
  • C. over-reliance on multiple commodities.
  • D. mismanagement and corruption.
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4370

Table 1 below shows the distribution of the population of a country in various occupations.
Study it and answer the questions that follow.

OCCUPATION TOTAL
Shoe Production
Banking
Fish Processing
Warehousing
Mining
Fish Farming
Food Crop Production
Baking
Laundry
30 million
37 million
19 million
12.2 million
16.1 million
10.8 million
15.6 million
19 million
10.3 million

 

a) Calculate the size of the entire labour force in the country

b) What percentage of the labour force is engaged in the
(i) Primary sector
(ii) Secondary sector
(iii) Tertiary sector

c) Calculate the ratio of the workers in mining to the workers in shoe production

d) Calculate the percentage of the people engaged in warehousing

e) (i) Identify the type of economy depicted in the table
(ii) Give a reason for your answer in (e)(i)

 

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
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