Waec Economics Past Questions and Answers

Question 1516:

• WAEC 2016

Which of the following will encourage capital intensive farming

A. Encouraging communal system of land ownership
B. Adopting policies that will encourage rural-urban migration
C. Provision of subsidies on equipment
D. Restrictive lending policies by banks

Question 1517:

• WAEC 2016

Which of the following best explains why more foreign investments are not attracted to West Africa

A. Small population size
B. Small sizes of market places
C. Instability in political and industrial policies
D. Lack of manpower needed to work in industries

Question 1518:

• WAEC 2016

Location of firm in rural areas may

A. Enable the firm to enjoy existing infrastructural facilities
B. Make finance readily avalaible
C. Enhance even or balanced development
D. Make such firm enjoy external economics of scale

Question 1519:

• WAEC 2016

International income accounting, double counting occurs when

A. Intermediate goods are counted twice
B. Intermediate goods are counted with the final goods
C. Final goods are counted more than twice
D. Different people count the products

Question 1520:

• WAEC 2016

The difference between GDP and GNP

A. Consumption of fixed capital
B. Indirect business tax
C. Net factor income from abroad
D. Public transfer payment