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"Economic Groupings" question number distribution across years
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WAEC questions for "Commerce :: Economic Groupings"
Q1
Which of the following is used to show that goods imported were produced in an ECOWAS member country?
A
Insurance policy.
B
Bill of lading.
C
Certificate of origin.
D
Bill of exchange.
E
Q2
ECOWAS is a form of
A
economic union.
B
political union.
C
trade union.
D
free trade association.
E
Q3
Which of the following is not an economic grouping?
A
ECOWAS
B
GATT
C
ECOMOG
D
EEC
E
Q4
Which of the following specializes in granting loans to distressed economies?
A
UNESCO
B
ECA
C
IMF
D
IBRD
E
UNDP
Q5
which of the following is not a problem of ECOWAS?
A
Different levels of economic development in member countries
B
Transportation and Communicattions links
C
Different economic policies of member countries
D
Diversified economy for West Africa
E
Use of different currencies
Q6
Which of the following is not economic grouping?
A
International Bank for Reconstruction and Development (IBRD)
B
Lake Chad Basin Commission (LCBC)
C
United nations Organization (UNO)
D
Niger Basin Commission (NBC)
E
Mano River Union (MRU)
Q7
Which of the following is not a barrier to the smooth functioning of ECOWAS?
A
Different currencies
B
Different languages
C
Adequate population
D
Political crisis
E
Fear of domination
Q8
ECOWAS headquarters is located in
A
Ghana
B
Nigeria
C
Senegal
D
Sierra Loene
E
Togo
Q9
Which of the following does not aim at protecting the consumer?
A
Hire purchase Act
B
Weights and MEasures Act
C
Indigenisation Act
D
Food and Drugs Act
E
Sales of Goods Act.
Q10
Which of the following is not a barrier to smooth trade among ECOWAS member nations?
A
Differences currencies and languages.
B
Establishment of a common tariff
C
Constant changes in government
D
Political and ideological differences.
E
Fear of domination by bigger countries.
Q11
A system in which people provide their own needs directly is known as
A
sub-standard economy.
B
subsistence economy.
C
mixed economy.
D
monetized economy.
E
specialized economy.
Q12
Which of the following protects consumers against poor quality goods?
A
Nigerian Chamber of Commerce
B
Standards Organization of Nigeria
C
Trade Association
D
Manufacturers Association of Nigeria
E
Nigerian National Supply Company.
Q13
What is the total number of the member countries of ECOWAS?
A
4
B
5
C
16
D
17
E
20
Q14
The main objective of ECOWAS is
A
promoting economic corporation and development.
B
promoting industry
C
promoting transport
D
promoting agricultural production
E
providing credit facilities.
Q15
The abbreviation ECOWAS stands for
A
Economic Community of West African State.
B
Economic Communion of West African States.
C
Economic Council of West African States.
D
Economic Council of West African States.
E
Economic Corporation of West African States
Q16
Which of the following associations will be directly affected by legislations on tariffs and taxes on raw materials? The
A
Nigerian Bar Association
B
Nigeria's Employers' Consultative Association
C
Nigeria's Medical Association
D
Manufacturers Association of Nigeria
E
Nigerian Union of Road Transport Workers
Q17
Which of the following is not a member country of the Lake Chad Basin Commission?
A
Chad
B
Togo
C
Cameroon
D
Niger
E
Nigeria
Q18
When and where was the ECOWAS treaty signed?
A
May 28, 1976 in Accra.
B
April 28, 1975 in Freetown.
C
May 28, 1975 in Lagos.
D
April 28, 1976 in Abidjan.
E
June 28, 1970 in Monrovia.
Q19
In nationalized industries, losses are borne by the
A
tax payers.
B
shareholders.
C
debentures holdres.
D
Minister of Industries.
E
Board of Directors.
Q20
The main aim of ECOWAS is the
A
elimination of apartheid.
B
formation of West African High Command
C
formation of governments of the West African States.
D
promotion of economic and cultural interaction.
E
promotion of ethnic and rural integration among member states.
Q21
Which of the following ensures that manufactured goods conform to the required standard?
A
Nigeria Industrial Research centre
B
Standard Organization of Nigeria
C
Consumer Consultative Committee
D
Price Control Board
E
Indeginisation Decree
Q22
The Organisational of Petroleum Expoting Countries (OPEC) is an example of
A
cartel.
B
trust.
C
holding company.
D
consortium.
E
chamber of commerce.
Q23
Which of the following currencies does/do not belong to any country within ECOWAS?
A
Naira and Kobo.
B
Dalasi.
C
Cedis and Pasewas.
D
Leo.
E
Kwasha and Shiling.
Q24

Which of the following arguments are in favour of establishing ECOWAS?


1. The countries concerned would be able to expand the market beyond their territorial boundaries.
11. Currency union is the final objective of member countries.
111. Capital movement is not allowed across the boundries.
1V. Free movement across the boarders of members would be allowed.

A

1, 11 and 111 only.

B

11 and 1V only.

C

1, 11 and 1V only.

D

11 and 111 only.

E

1 and 111 only.

Q25
Which of the following countries is not a member of ECOWAS?
A
Nigeria.
B
Gambia.
C
Sierra-leone.
D
Ghana.
E
Cameroon.
Q26

Any power excersised by a company in pursuance of objects not authorised by the Memorandum of Association is regarded as

A

a trespass.

B

a nuisance.

C

ultra vires.

D

uberrimea fidei.

E

caveat emptor.

Q27
The treaty establishing ECOWAS on May 28, 1975 was signed by
A
15 Heads of State.
B
14 Heads of States.
C
13 Heads of States.
D
15 Foreign Ministers.
E
12 Heads of States.
Q28
One of the main aims of the ECOWAS is to
A
foster interchange of goods and services among its members.
B
provide a reliable market for stock and shares.
C
have common political system.
D
have a common language.
E
have one currency.