Waec Economics Past Questions and Answers

Question 1701:

• WAEC 1996

The hourly wages of five employees of the Nigerian Port Authority are N2.52, N3.96, N9.20, and N3.75 respectively. The median hourly wage is

A. N2.52
B. N3.28
C. N3.75
D. N3.96
E. N9.20

Question 1702:

• WAEC 1996

The petroleum industry in Nigeria is an example of a

A. Capital-intensive industry
B. Service industry
C. Labour-intensive industry
D. Tertiary production industry
E. Localized industry

Question 1703:

• WAEC 1996

The international cartel formed to stabilize the world oil market is the

A. Economic Commissioner for Africa
B. International Monetary Fund
C. Organization of Petroleum Exporting Countries
D. Organization of Petroleum Importing Countries
E. International Trade Organization

Question 1704:

• WAEC 1996

The United Nation Conference on Trade and Development (UNCTAD) is a forum designed specifically for discussing the

A. Political conflicts in the United Nation Security Council
B. Educational needs of the developed countires
C. Religious affairs in the Southern Africa
D. Revenue allocation in Nigeria
E. Better terms of trade in the world

Question 1705:

• WAEC 1996

The International Monetary Fund (IMF) is an international organization which

A. Gives annual grants to all developing countries
B. Assist countries to solve their balance of payment problems
C. Execute their development projects
D. Help to promote regional economic groupings
E. Is owned by all developed countries