Waec Economics 2007 Past Questions and Answers

Question 46:

• WAEC 2007

The practice of selling goods overseas and often below the cost of production is known as

A. Retailing
B. Dumping
C. Internal trade
D. Advertising

Question 47:

• WAEC 2007

A summary of all the receipts and payments of a country in international transaction is called

A. Terms of trade
B. Balance of payment
C. Balance of payment adjustment
D. Capital account

Question 48:

• WAEC 2007

Which of the following countries export cocoa?

A. Liberia and The Gambia
B. Ghana and Sierra Leone
C. Nigeria and Ghana
D. Sierra Leone and Nigeria

Question 49:

• WAEC 2007

Which of the following are examples of transfer payments?

A. Gifts and donations
B. Rents and rates
C. Profits and dividends
D. Internal and external debts

Question 50:

• WAEC 2007

ECA means

A. Economic Commission for Africa
B. Economic Community of Africa
C. Exporting Countries of Africa
D. Economic Conference on Africa