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Economics Past Questions and Answers

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Economics Questions

Question 2661:

Small enterprises finds it difficult to expand due to

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A Inadequate capital
B Lack of skilled manpower
C The high level of technology required for expansion
D Their inability to provide after-sale services

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Question 2662:

The Organization of Petroleum Exporting Countries (OPEC) is a

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A Cartel
B Duopoly
C Monopoly
D Monopsony

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Question 2663:

One major export crop in West Africa is

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A Rice
B Maize
C Palm kernel
D Cocoa

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Question 2664:

Balance of payment deficit implies that a country is

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A Importing more than she is exporting
B Consumed less than she is producing
C Living below her means
D More productive than others

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Question 2665:

West African countries have low level of economic development due to

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A Under-population
B Inadequate labour
C Failure to plan
D Ineffective plan implementation

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