Waec Economics Past Questions and Answers

Question 511:

• WAEC 1999

Commodity market can best be described as a market in which

A. Goods are sold
B. Labour is sold and bought
C. Short-term loans are obtained
D. Quoted stocks are bought

Question 512:

• WAEC 1999

Provision of services is classified under

A. Primary production
B. Secondary production
C. Tertiary production
D. Production possibilities

Question 513:

• WAEC 1999

In ordinary partnership, the risks are

A. Borne by the workers
B. Borne by the creditors
C. Shared among the partners
D. Undertaken by the active partners

Question 514:

• WAEC 1999

balance of trade is define as the relationship between

A. Invisible imports and exports
B. Visible and invisible exports
C. Imports and exports of services
D. Visible exports and visible imports

Question 515:

• WAEC 1999

which of the following combination of qualities ensures a good tax system?

A. Deflationary equity, certainty and convinience
B. Economy convinience, certainty and equity
C. Economy, deflationary, inflationary and certainty
D. Economy, convinience, certainty and inflationary