Waec Economics 1994 Past Questions and Answers

Question 11:

• WAEC 1994

The central banks controls commercial banks through all the following measures except

A. The uses of directives
B. The use of bank rate
C. Open market operations
D. Accepting deposits
E. Demanding special deposits

Question 12:

• WAEC 1994

If a person supplements his current income by drawing on past savings in order to make both ends meet, he is said to be living

A. Good life
B. An average life
C. On his savings
D. A reckless life
E. On borrowed money

Question 13:

• WAEC 1994

Which of the following is not a set of measures of central tendency?

A. Mode and Median
B. Mean and median
C. Mean and mode
D. Median and percentage
E. Mode, mean and median

Question 14:

• WAEC 1994

which of the following pairs can be referred to as middlemen?

A. Wholesalers and agents
B. Retailers and consumers
C. Consumers and agents
D. Wholesalers and retailers
E. Wholesalers and consumers

Question 15:

• WAEC 1994

Mono-products economics are those that

A. Have a rich culture heritage
B. Produce only raw materials
C. Live on the exportation of their raw products
D. Produce one main commodity
E. Specialize in agricultural industries