Waec Economics 1994 Past Questions and Answers

Question 6:

• WAEC 1994

which of the following function of money makes it possible for any person to provide for old age?

A. Medium of exchange
B. Stores of value
C. Measures of value
D. Unit of account
E. Standard for deferred payment

Question 7:

• WAEC 1994

The primary objective of Agricultural Credit Guarantee Scheme is the provision of

A. Guarantee for loans granted by by banks for agricultural purposes
B. Agricultural inputs to facilitate credits from banks
C. Loans for every farmer
D. Agricultural products for farmers
E. Credit for farmers

Question 8:

• WAEC 1994

which of the following is not an advantage of localization of industries ?

A. Enjoyment of externa economies
B. Development of subsidiary industries
C. Development of organized markets
D. Growth of conurbation
E. Growth of farms

Question 9:

• WAEC 1994

Which of the following is not an advantage of government ownership of enterprises?

A. More capital is provided
B. Pricing policy may be in the interest of consumers
C. Government workers may be indifferent towards the public
D. Infrastructure are rapidly developed
E. Incomes may be more evenly distributed

Question 10:

• WAEC 1994

if the foreign exchange rate is N80 to £1, then a bicycle bought for £40 will cost

A. N15.00
B. N60.00
C. N100.00
D. N250.00
E. N320.00