Waec Economics Past Questions and Answers

Question 581:

• WAEC 2000

The primary objectives of the Nigerian Industrial Development Banks(NIDB) is the provision of loans to

A. Farmers
B. Manufacturers
C. Setate agents
D. Transporters

Question 582:

• WAEC 2000

Small enterprises finds it difficult to expand due to

A. Inadequate capital
B. Lack of skilled manpower
C. The high level of technology required for expansion
D. Their inability to provide after-sale services

Question 583:

• WAEC 2000

The Organization of Petroleum Exporting Countries (OPEC) is a

A. Cartel
B. Duopoly
C. Monopoly
D. Monopsony

Question 584:

• WAEC 2000

One major export crop in West Africa is

A. Rice
B. Maize
C. Palm kernel
D. Cocoa

Question 585:

• WAEC 2000

Balance of payment deficit implies that a country is

A. Importing more than she is exporting
B. Consumed less than she is producing
C. Living below her means
D. More productive than others