Waec Economics Past Questions and Answers

Question 161:

• WAEC 1991

Which of the following is not regarded as money in Economics?

A. Coins
B. Currency notes
C. Bank depisits
D. Cheques
E. Naira and Kobo

Question 162:

• WAEC 1991

Which of the following is not a reason why people migrate from one place to another ?

A. To find jobs and improve their standard of living
B. To live in a more suitable climate
C. For the sake of change and adventure
D. To escape from a religious. political or social situation in a country
E. To buy foreign goods for sale in their country

Question 163:

• WAEC 1991

A major function of the middlemen in Nigeria is the distribution of

A. Commodities to all consumers regardless of income
B. Commodities to consuming centres
C. Economic welfare facilities to all
D. Waelth to all
E. Income within the society

Question 164:

• WAEC 1991

International trade is necessary mainly because

A. No country can live in economic isolation
B. Different countries are endowed with the same natural; and man-made resources
C. Some countries have comparative cost advantage in the production of certain commodities
D. The world demand for and supply od various categories of commodities is expanding very fast
E. Countries wants to build up their foreign exchange reserve

Question 165:

• WAEC 1991

Which of the following is the approximate working agent in Nigeria?

A. 1 - 15
B. 15 - 65
C. 30 - 40
D. 40 - 65
E. 65 and above