Waec Economics Past Questions
Question 16
A mixed economy combines the characteristics of both
- A. planned and capitalist economies
- B. exchange and subsistence economies
- C. subsistence and planned economies
- D. capital and exchange economies
Question 17
The economic system in which the state makes the economic decisions through detailed planning is
- A. Capitalism
- B. socialism
- C. traditional economic system
- D. mixed economic system
Question 18
which of the following is an objective of economic integration?
- A. harmonization of cultural practises
- B. free movement of persons, goods and services
- C. payment of high tarrifs
- D. dumpoing of goods in less developed countries
Question 19
In an attempt to correct a deficit balance of payment, a country may decide to increase
- A. domestic production
- B. imports
- C. domestic expenditure
- D. tax on infant industry
Question 20
which of the following is an invisible term?
- A. Banking services
- B. Petroleum products
- C. Processed rice
- D. processed milk
