WAEC Economics Past Questions & Answers - Page 161

801.

Agriculture is important to the economy of West African countries because it is the source of

A.

Power

B.

Equipment supply

C.

Industrial input

D.

Technological progress

Correct answer is C

No explanation has been provided for this answer.

802.

Which of the following agricultural system is mainly for the cultivation of food crops for family consumption?

A.

Co-operative farming

B.

Commercial farming

C.

Subsistence farming

D.

Plantation farming

Correct answer is C

No explanation has been provided for this answer.

803.

The difference between the Gross National Products (GNP) and the Gross Domestic Product (GDP) is

A.

Total interest payment

B.

Net income generated internally

C.

Total national savings

D.

Net income from abroad

Correct answer is D

No explanation has been provided for this answer.

804.

Amount proposed for payment of wages and salaries in a budget is regarded as part of

A.

Recurrent expenditure

B.

Direct investment

C.

Recurrent revenue

D.

Capital receipts

Correct answer is A

No explanation has been provided for this answer.

805.

A cheque book is issued to customers of a bank operating a

A.

Savings account

B.

Time deposit account

C.

Current account

D.

Fixed deposit account

Correct answer is C

No explanation has been provided for this answer.