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Economics Past Questions and Answers

Waec Economics Questions

Question 1416:
WAEC 2014
International trade is desirable because it
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  • A May lead to overproduction
  • B Brings about over-dependence of countries on one another
  • C Provides foreign market for local goods
  • D Brings about unhealthy competition and rivalries
View Answer & Explanation
Question 1417:
WAEC 2014
A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as
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  • A Merchant Bank
  • B Development Bank
  • C Central Bank
  • D Insurance Company
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Question 1418:
WAEC 2014
Which of the following functions of money is mostly affected during inflation?
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  • A Medium of exchange
  • B Unit of Account
  • C Store of value
  • D Standard of deferred payment
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Question 1419:
WAEC 2014
Precautionary motive for holding money is to
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  • A Meet daily and regular transactions
  • B Take advantage of changes in the prices of goods and services
  • C Cover unforeseen events
  • D Cover expenses on house rent
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Question 1420:
WAEC 2014
Which of the following measures will not encourage industrialization in West Africa?
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  • A Taking over of all forms of industries by the government
  • B Provision of social infrastructure
  • C Giving tax incentives, especially to infant indudustries
  • D Using tariffs to discourage the use of imported items
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