WAEC Economics Past Questions & Answers - Page 302

1,506.

The wholesale provides all the following services to the manufacturer except

A.

Warehousing

B.

Financing production

C.

Marketing the product

D.

Granting credit

E.

After-sales services

Correct answer is E

No explanation has been provided for this answer.

1,507.

The headquarter of the Organization of Petroleum Exporting Countries (OPEC) is in

A.

Geneva, Switzerland

B.

Vienna, Austria

C.

Paris, France

D.

London, Britain

E.

New York, USA

Correct answer is B

No explanation has been provided for this answer.

1,508.

Another name for the International Banks for Reconstruction and Development (IBRD) is

A.

International Monetary Funds

B.

International Development Bank

C.

World Bank

D.

International Bank of Africa

E.

International Bank for West Africa

Correct answer is C

No explanation has been provided for this answer.

1,509.

The amount of money to be created by commercial banks is actually influenced by the

A.

Legal reserved ratio

B.

External reserve

C.

External borrowing

D.

Availability of money and capital market

E.

Bank deposits

Correct answer is A

No explanation has been provided for this answer.

1,510.

The Nigerian economy can be best described as a

A.

Socialist economy

B.

Capitalist economy

C.

Mixed economy

D.

Controlled economy

E.

Domestic economy

Correct answer is C

No explanation has been provided for this answer.