Waec Economics 1997 Past Questions and Answers

Question 26:

• WAEC 1997

The largest employment sector in a typical West African country is

A. Construction
B. Transportation
C. Petroleum
D. Agriculture
E. Manufacturing

Question 27:

• WAEC 1997

The indigenisation policy in Nigeria is aimed at

A. Nationalising foreign businesses
B. Alternating foreign investors
C. Commandeering foreign businesses in Nigeria
D. Expelling foreign investors and taking over their investment
E. Increasing equity participation and control by Nigerians

Question 28:

• WAEC 1997

the foregone alternative in Economics is simply the

A. Marginal cost
B. Cost of foreign products
C. Total cost
D. Opportunity cost
E. Average cost

Question 29:

• WAEC 1997

all the following are different forms of money except

A. Bank notes
B. Demand deposits
C. Coins
D. Currency
E. Bank sellers

Question 30:

• WAEC 1997

The developments banks are essentially different from commercial banks because they

A. Medium and long term loans
B. Open current accounts for their customers
C. Discount bills of exchange
D. Are lenders of last resort
E. Carry out open market operations