Waec Economics 1989 Past Questions and Answers

Question 41:

• WAEC 1989

The downward sloping of the Average Revenue curve of the monopolist indicates that he

A. Can control both output and price
B. Can only break-even
C. Can control either the output or the price, but not both
D. Can’t control anything
E. Exploit the consumer

Question 42:

• WAEC 1989

which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the Organization of Petroleum Exporting Countries (OPEC)? The

A. US dollar
B. Japanese Yen
C. Pound Sterling
D. Deutschemark
E. Naira

Question 43:

• WAEC 1989

What is devaluation? Under what conditions will devaluation improve a country's balance of payment position ?

Question 44:

• WAEC 1989

The wholesaler performs useful economic functions. Discuss.

Question 45:

• WAEC 1989

Briefly outline the measures which Nigeria has taken to improve the marketing of her agricultural produce.