Waec Economics 1991 Past Questions and Answers

Question 16:

• WAEC 1991

Which of the following is not a reason why people migrate from one place to another ?

A. To find jobs and improve their standard of living
B. To live in a more suitable climate
C. For the sake of change and adventure
D. To escape from a religious. political or social situation in a country
E. To buy foreign goods for sale in their country

Question 17:

• WAEC 1991

A major function of the middlemen in Nigeria is the distribution of

A. Commodities to all consumers regardless of income
B. Commodities to consuming centres
C. Economic welfare facilities to all
D. Waelth to all
E. Income within the society

Question 18:

• WAEC 1991

International trade is necessary mainly because

A. No country can live in economic isolation
B. Different countries are endowed with the same natural; and man-made resources
C. Some countries have comparative cost advantage in the production of certain commodities
D. The world demand for and supply od various categories of commodities is expanding very fast
E. Countries wants to build up their foreign exchange reserve

Question 19:

• WAEC 1991

Which of the following is the approximate working agent in Nigeria?

A. 1 - 15
B. 15 - 65
C. 30 - 40
D. 40 - 65
E. 65 and above

Question 20:

• WAEC 1991

Dumping in Economics means the selling of goods in a foreign market

A. Ata a price below that received in the home market
B. At a price above that received in the home market
C. At a price equal to the cost price in the home market
D. In order to encourage indigenious producers
E. At a price equal to the selling price in the home market