International Economic Organizations - Jamb Economics Past Questions and Answers

Question 36:

• JAMB 2011

The World Trade Organization is responsible for

A. Stabilizing and harmonization oil prices
B. Ensuring equal participation of countries in trade
C. Modernising world economies
D. Minimizing obstacles to international trade and investment

Question 37:

• JAMB 2012

One of the functions of ECOWAS is to

A. Provide funds for infrastructural development
B. Determine prices of exports
C. Redistribute income among citizens
D. Provide employment for citizens of member nations

Question 38:

• JAMB 2013

One of the main achievements of the Economic Commission for Africa is

A. Eliminating trade restrictions among states
B. Encouraging transport and communication development
C. Guaranteeing a steady flow of foreign investment into Africa
D. Providing the machinery for collaboration on monetary issues

Question 39:

• JAMB 2020

The Economic Commission for Africa was set up by the?

A. UNO
B. ECOWAS
C. OAU
D. IMF

Question 40:

• JAMB 2021

When a nation's exports are greater than its imports, ____________

A. The net foreign trade is zero
B. A favourable balance of trade exists
C. A favourable balance of payment exists
D. An unfavourable balance of trade exists