Waec Economics 2019 Past Questions and Answers

Question 56:

• WAEC 2019

Which of the following institutions is Concerned with expanding developing countries' commodity trade

A. World Trade Organization (WTO)
B. United Nations Conference on Trade and Development (UNCTAD)
C. Economic Commission for Africa (ECA)
D. African Development Bank (AfDB)

Question 57:

• WAEC 2019

The major achievement of the Economic Community of West African States (ECOWAS) is that it has

A. Made capital more mobile
B. Made possible the use of common currency
C. Increased members' allegiance to former colonial masters
D. WIdened the market for goods produced

Question 58:

• WAEC 2019

One measure for financing a country's balance of payments deficit is through _____________

A. Export diversification
B. Import substitution
C. Short-term borrowing from IMF
D. Internal borrowing from commercial banks

Question 59:

• WAEC 2019

Exploitation of forest resources becomes a major problem when _____________

A. Communities fight over ownership
B. They are not renewed
C. They are neglected
D. The supply is fixed in the long-run

Question 60:

• WAEC 2019

Natural resources that are renewable are found in the _____________

A. Mining sector
B. Traditional sector
C. Agricultural sector
D. Secondary sector