WTO - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2014

The main objective of WTO is to

A. Ensure adequate protection of infant industries
B. Provide a mechanism for tariff reduction
C. Assist countries with chronic balance of payments problem
D. Assist developing countries to execute developmental projects

Question 3:

• JAMB 2007

The main objective of WTO is to

A. Help countries with chronic balance of payments problems
B. Help debtor nations solve their problems
C. Ensure adequate tariff protection for infant industries
D. Provide a mechanism for tariff reductions

Question 4:

• 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