Waec Economics Past Questions and Answers

Question 761:

• WAEC 2003

budget deficit can be financed by

A. Reducing the level of taxation
B. Printing more money
C. Lending to financial institution
D. Employing more workers

Question 762:

• WAEC 2003

A major problem facing the Economic Community of West African States (ECOWAS) as an economic integration , is the

A. Increasing population
B. Willingness of members to co-operate
C. Geographical contiguity
D. Weal trade relation

Question 763:

• WAEC 2003

In a socialist economy, the means of productions owned and controlled by the

A. State
B. Rich
C. Entreprenuer
D. Traders

Question 764:

• WAEC 2003

It is necessary to estimate the national income of of a country because it

A. Indicates the overrall performance of the economy
B. Ensure equitable distribution of wealth
C. Assits investors in identifying profitable ventures
D. Enables governments to conserve national resources

Question 765:

• WAEC 2003

The Organization of Petroleum Exporting Countries (OPEC) is an example of a

A. Perfect competition
B. Monopsony
C. Duopoly
D. Cartel