BASICALLY WAEC ECONOMIC OBJECTIVE ANSWERS 2018 RUNZ & EXPO 2019
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2018/2019 EXAMINATION SCHEME
West African Examinations Council (WAEC) is an examination board that conducts the West African Senior School Certificate Examination, this exam is not only conducted in Nigeria but to all West African Countries. purposely for University and Jamb entry examination in West Africa countries.
BASIC Things To take Note in WAEC ECONOMIC OBJECTIVE Exams 2018
- Firstly there will be two papers – Paper 1 and Paper 2; both of which will be combined in a 3 hour composite paper.
- Paper 1: will consist of fifty multiple choice questions to be taken in 1 hour for 50 marks.
Paper 2: will consist of eight essay- type questions in two sections: Sections A and B.
- Section A shall be on data response. Candidates will be required to answer four questions in all, choosing one question from Section A and any three questions from Section B. The paper shall last 2 hours for 80 marks.
WAEC ECONS 2018 OBJECTIVE
3. Malthus’ population theory states that
A. high death rate may lead to low productivity.
B. population may outgrow the means of subsistence.
C. people will always decide to have children.
D. migration may leave some parts of the world barren.
4. Which of the following is not likely to be an effect of a growing population?
A. Rise in demand
C. Fall in standard of living
D. High per capita income
1. One of the advantages of large scale production is that
A. there is a rise in the cost of administration.
B. consumers sacrifice their individual tastes.
C. the firm can use labour-saving machinery.
D. the demand for a firm’s products becomes localized.
2. The location of timber and plywood industries in West Africa is mainly influenced by the availability of
C. raw materials.
D. labour supply.
5. Personal savings are generally low in West Africa because of
A. the level of income of the people.
B. the refusal of banks to grant loans.
D. cheaper foreign currencies.
WHAT IS THE DIFFERENCE BETWEEN ECONOMICS & ECONOMY
6. Devaluation of currency in a country is likely to lead to
A. increasing population.
B. increasing imports.
C. exports becoming cheaper.
D. reduced exports.
7. Which of the following is not a benefit derived from the petroleum industry?
A. Increased foreign exchange earnings
B. Establishment of refineries and petrochemical industries
C. Employment of a greater proportion of the population
D. Development of airports, seaports and other social infrastructure
8. An efficient weapon used in resolving disputes between employees is
B. collective bargaining.
C. display of placards.
D. legal action.
2018 REAL WAEC ECONOMICS ANSWERS TO ALL QUESTIONS
9. A country’s balance of payment is in deficit when
A. a country’s payments for imports of invisible goods are greater than her receipts from exports of invisible goods.
B. the total receipts from her export of visible and invisible goods are greater than her payments for visible and invisible imports.
C. it can record a surplus on current account of her balance of payments accounts.
D. the total payments for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods.
10. Which of the following features best describes peasant agriculture in West Africa? It
A. specializes in the production of one crop.
B. involves the use of small farm holdings.
C. is a capital-intensive system of farming.
D. and finally is mostly associated with tree crops