Waec Economics Past Questions
Question 26
The full meaning of OPEC is
- A. Oil ans Petroleum Exporting Countries
- B. Original Petroleum Exporting Companies
- C. Organization of Petrol Exporting Countries
- D. Organization of Petroleum Exporting Countries
Question 27
one of the functions of of the international Monetary Fund (IMF) is to
- A. devalue the currency of member state
- B. reduce drastically the size of deficit financing of member states
- C. giving financial assistance to member states that have temporary balance of payment difficulties
- D. discourage the rapid industrialization process in the less developed nation of the world
Question 28
What must be added to variable cost to give total cost?
- A. average total cost
- B. average variable cost
- C. fixed cost
- D. marginal cost
Question 29
When population is classified according to professions, it is called
- A. geographical distribution of population
- B. age distribution of population
- C. sex distribution of population
- D. occupational distribution of population
Question 30
a country where labour is not sufficient to make proper use of natural resources is said to have an
- A. active population
- B. optimum population
- C. over-population
- D. under-population
