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Economics Past Questions and Answers

Waec Economics Questions

Question 1126:

The terms of trade is described as unfavourable when

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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

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Question 1127:

Expenditure by foreign tourist in a country will be recorded as

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A Visible exports
B Official transfers
C Transfer income
D Divisible exports

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Question 1128:

One major aim of a cartel is to

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A Increase production
B Regulate output through quota system
C Have a joint account
D Share profits equally

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Question 1129:

The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are

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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

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Question 1130:

The headquarters of the African Development Bank (ADB) was originally located at

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A Cotonou
B Harare
C Abidjan
D Lagos

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