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Thursday, 16 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 2496:
WAEC 1997
Free Trade means
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  • A Producers are free to determine their prices
  • B Market forces are allowed to determine prices
  • C Non-restriction of international trade
  • D Goods are to be sold free of charge
  • E People are free to buy in foreign countries
View Answer & Explanation
Question 2497:
WAEC 1997
In a public company , entrepreneural function are performed by the
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  • A Workers
  • B Shareholders
  • C Creditors
  • D Board of directors
  • E Chairman
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Question 2498:
WAEC 1997
Term of trade is the
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  • A Ratio of capital movement to export movements
  • B Ratio of import to short-term export
  • C Difference between export and import
  • D Ratio of short-term capital movement to long-term capital movements
  • E Ratio of index of export prices to index of import prices
View Answer & Explanation
Question 2499:
WAEC 1997
Tariff can be define as a compulsory levy on
SchoolNGR Classroom
  • A Goods that are produced and consumed locally
  • B Foreign exchange earnings
  • C Imported but inferior goods
  • D Foreigners working in a country
  • E Imports and exports
View Answer & Explanation
Question 2500:
WAEC 1997
international trade is different from internal trade because of the
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  • A Manufactured goods involved
  • B Currency differentials
  • C Homogeinty of products
  • D Heterogeinty of products
  • E Uniformity of prices
View Answer & Explanation

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