Waec Economics 1996 Past Questions and Answers

Question 36:

• WAEC 1996

The International Monetary Fund (IMF) is an international organization which

A. Gives annual grants to all developing countries
B. Assist countries to solve their balance of payment problems
C. Execute their development projects
D. Help to promote regional economic groupings
E. Is owned by all developed countries

Question 37:

• WAEC 1996

An economic system in which most means of production are owned and controlled by the State is known as a

A. Socialist economy
B. Capitalist economy
C. Mixed economy
D. Political economy
E. Feudal economy

Question 38:

• WAEC 1996

In what ways can the government improve agricultural production in Nigeria?

Question 39:

• WAEC 1996

Define ageing population and explain its effects on an economy.

Question 40:

• WAEC 1996

Explain any three weapons that can be used by a trade union and any two weapons that can be used by an Employers' Association during a trade dispute.