Waec Economics Past Questions and Answers

Question 691:

• WAEC 2002

Which of the following is a function of merchant banks?

A. Minting of coins
B. Preparation of government budget
C. Keeping watch on external reserves of the country
D. Acting as acceptance houses

Question 692:

• WAEC 2002

personal savings are generally low in West Africa because of

A. The level of income of people
B. The refusal of banks to grant loans
C. Overpopulation
D. Cheaper foreign currencies

Question 693:

• WAEC 2002

Which business organization enjoys tax-free point in est Africa?

A. Co-operative societies
B. Private limited liability companies
C. Joint stock companies
D. Partnerships

Question 694:

• WAEC 2002

The greatest revenue earning industry in Nigeria is

A. Construction
B. Agriculture
C. Manufacturing
D. Mining

Question 695:

• WAEC 2002

A market equilibrium exist when

A. No buyer goes home empty-handed
B. Demand and supply are increasing
C. Demand and supply are equal
D. The price is fluctuating