Economics Past Questions And Answers
which of the following item is under the capital account of a balance of payment?
- A. repayment of foreign loans
- B. visible imports
- C. invisble exports
- D. cocoa exports
A commodity is said to have derived demand when it
- A. has a joint demand with another commodity
- B. is demanded by the rich only
- C. is demanded for immediate consumption
- D. is demanded because of what it can help to produce
\(\begin{array}{c|c}
\text{Population(Million)} & \text{Food Production(Milion tonnes)} \\
50 & 220 \\
70 & 210 \\
90 & 225 \\
100 & 275 \\
\end{array}\)
In the data above, what is the optimum population in million?
- A. 50
- B. 70
- C. 90
- D. 100
The distribution channel that contributes most to the cost of production is?
- A. producer-wholesaler-consumer
- B. producer-retailer-consumer
- C. producer-retailer-wholesaler-consumer
- D. producer-wholesaler-retailer-consumer
Country M enjoys absolute advantage over country N in the production of commodities X and Y, if country M
- A. is inefficient in the production of both commodities X and Y
- B. is more efficient than country N in producing both commodities X and Y
- C. can produce only commodity Y cheaper than country N
- D. and country N are efficient in the production of both goods
An upward review of the retirement age will affect the
- A. wage rate
- B. demand for labour
- C. supply of labour
- D. tax rate
(a) (i) Define distribution of goods.
(ii) Illustrate the normal chain of distribution of goods.
(b) Describe a consumers’ cooperative society.
(c) Outline any four roles performed by a consumers’ cooperative society
View Discussion (0)WAEC 2019 THEORYIf the death rate of a country is 52% and the growth rate is 12%, what is the birth rate of the county
- A. 48%
- B. 64%
- C. 40%
- D. 52%
In economic life, the choice among alternatives depends on the?
- A. income of the decision maker
- B. scarcity of resources
- C. the scale of preference of the decision-maker
- D. status of the decison maker
The balance of visible trade is the difference between the values of?`
- A. imported and exported goods
- B. imported and exported services
- C. current account and capital account
- D. exchange rate of local and foreign currencies