WAEC Economics Past Questions, Answers, And Explanations - Economics

Waec Economics Questions

Question 301:

WAEC 1994

one of the function of a commercial bank is that it

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A Is responsible for formulating monetary policies
B Accepts demand and time deposits from constomers
C Is the lender of the last resort
D Is the banker of the government
E Is responsible for issuing currency notes

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Question 302:

WAEC 1994

which of the following is not a problem of distribution of goods in Nigeria?

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A Poor communication network
B Inadequate storage facilities
C Ignorance of consumers
D Dishonesty of middlemen
E Inadequate market

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Question 303:

WAEC 1994

Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he has . If Mr. Idowu buys the television , the refrigerator would be regarded as the

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A Marginal cost
B Inferior item
C Opportunity cost
D Supplementary item
E Prime cost

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Question 304:

WAEC 1994

Petro-chemicals industries are located in River State of Nigeria due to the presence of

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A A favourable climate
B Coal deposits
C Oil palm products
D An undullating terrain
E Oil deposits

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Question 305:

WAEC 1994

Foreign exchange control in Nigeria is enforced by the

SchoolNGR Classroom

A Commercial banks
B Merchant banks
C Mortgage banks
D Central banks
E Agricultural development banks

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