Waec Economics 2017 Past Questions and Answers

Question 41:

• WAEC 2017

which of the following is not a feature of economic underdevelopment

A. Monocultural economy
B. High productivity
C. Low life expectancy
D. Income inequality

Question 42:

• WAEC 2017

one way of speeding up the economic development of a country is by encouraging

A. The consumption of consumer goods
B. Early marriage
C. The importation of more consumer goods
D. Savings and investment

Question 43:

• WAEC 2017

Dumping in international occurs when a foreign firm sells

A. Above its cost of production at home and abroad
B. Below its cost of production at home and abroad
C. More goods to a country than the country has need of
D. Below its cost of production in a foreign market

Question 44:

• WAEC 2017

Infant industries can be described as?

A. Newly established industries
B. Industries enjoying tax holidays
C. Industries producing baby products
D. Newly commercialized industries

Question 45:

• WAEC 2017

Modern international trade is based on the principle of?

A. Absolute cost advantage
B. Comparative advantage
C. Terms of trade
D. Balance of trade