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Monday, 04 May 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1126:
The terms of trade is described as unfavourable when
  • A The price of imports rises relative to those of exports
  • B The price of exports rises relative to those of imports
  • C The net income from aabroad does not change
  • D The value of exports exceeds those of imports
View Answer & Explanation
Question 1127:
Expenditure by foreign tourist in a country will be recorded as
  • A Visible exports
  • B Official transfers
  • C Transfer income
  • D Divisible exports
View Answer & Explanation
Question 1128:
One major aim of a cartel is to
  • A Increase production
  • B Regulate output through quota system
  • C Have a joint account
  • D Share profits equally
View Answer & Explanation
Question 1129:
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are
  • A Nigeria, Iraq, Venezuela, Kuwait and Ghana
  • B Saudi Arabia, Kuwait, Sierra Leon, Iran and Iraq
  • C Algeria, Kuwait, Venezuela, Iran and The Gambia
  • D Kuwait, Venezuela, Iran Iraq and Saudi Arabia
View Answer & Explanation
Question 1130:
The headquarters of the African Development Bank (ADB) was originally located at
  • A Cotonou
  • B Harare
  • C Abidjan
  • D Lagos
View Answer & Explanation