Waec Economics Past Questions For Year 2009
Question 46
Economic development is reflected in the
- A. scarcity of capital
- B. increase in the price level
- C. decline in the agricultural production
- D. increase in productive capacity
Question 47
The need for development planning arises largely from the fact that
- A. aggregate savings exceeds aggregate consumption
- B. aggregate consumption equals aggregate savings
- C. productive resource are in excess of the demand for them
- D. productive resource are scarce relative to the demand for them
Question 48
The headquarters of the African Development Bank (ADB) was originally located at
- A. Cotonou
- B. Harare
- C. Abidjan
- D. Lagos
Question 49
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
Question 50
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
