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Economics Past Questions and Answers

Waec Economics Questions

Question 1701:

The hourly wages of five employees of the Nigerian Port Authority are N2.52, N3.96, N9.20, and N3.75 respectively. The median hourly wage is

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A N2.52
B N3.28
C N3.75
D N3.96
E N9.20

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Question 1702:

The petroleum industry in Nigeria is an example of a

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A Capital-intensive industry
B Service industry
C Labour-intensive industry
D Tertiary production industry
E Localized industry

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Question 1703:

The international cartel formed to stabilize the world oil market is the

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A Economic Commissioner for Africa
B International Monetary Fund
C Organization of Petroleum Exporting Countries
D Organization of Petroleum Importing Countries
E International Trade Organization

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Question 1704:

The United Nation Conference on Trade and Development (UNCTAD) is a forum designed specifically for discussing the

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A Political conflicts in the United Nation Security Council
B Educational needs of the developed countires
C Religious affairs in the Southern Africa
D Revenue allocation in Nigeria
E Better terms of trade in the world

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Question 1705:

The International Monetary Fund (IMF) is an international organization which

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A Gives annual grants to all developing countries
B Assist countries to solve their balance of payment problems
C Execute their development projects
D Help to promote regional economic groupings
E Is owned by all developed countries

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