Category: Economics

Which of the following countries is not a member of the Economic Community of West African States (ECOWAS)? A. Ghana B. The Gambia C. Cameroun D. Guinea Bissau Correct Answer: Option C C....

West African countries have a low level of economic development due to? A. under-population B. inadequate labour C. failure to plan D. ineffective plan implementation Correct Answer: Option D D. ineffective plan...

Balance of payment deficit implies that a country is? A. importing more than she is exporting B. consumed less than she is producing C. living below her means D. more productive than others Correct Answer: Option A A. importing...

One major export crop in West Africa is? A. rice B. maize C. palm kernel D. cocoa Correct Answer: Option D D. cocoa

Small enterprises find it difficult to expand due to? A. inadequate capital B. lack of skilled manpower C. the high level of technology required for expansion D. their inability to provide after-sale services Correct Answer:...

The primary objectives of the Nigerian Industrial Development Banks(NIDB) is the provision of loans to? A. farmers B. manufacturers C. estate agents D. transporters Correct Answer: Option B B....

Mono-product economies are those that produce? A. only intermediate products B. petroleum products C. agricultural products D. one main commodity Correct Answer: Option D D. one main...

Unemployment that arises because of the introduction of new machines and equipment in production is called? A. cyclical B. structural C. seasonal D. disguised Correct Answer: Option B B....

Which of the following banks grant credit facilities to individuals wishing to build houses? A. Central Bank of Nigeria B. Nigerian Industrial Development Bank C. Agricultural Credit Bank D. Federal Mortgage Bank of Nigeria...

Commercial banks settle their inter-bank indebtedness through? A. merchant banks B. central banks C. development banks D. stock exchange Correct Answer: Option B B. central...

Foreign exchange control in most West African countries is enforced by the? A. development banks B. Merchant banks C. ministry of economic planning D. Central banks Correct Answer: Option D D. Central...

Inflation can best be checked by? A. allowing supply to remain constant B. decreasing supply and increasing wages C. increasing supply and holding wages constant D. decreasing supply and wages Correct Answer: Option C C....