Economic Development and Planning Generix Content - Economic Development and Planning
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"Economic Development and Planning" question number distribution across years
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WAEC questions for "Economics :: Economic Development and Planning"
Q1

Which of the following sectors is most capital intensive?

A

Insurance

B

Petroleum

C

Commerce

D

Tourism

E
Q2

The need for development planning arises largely from the fact that

A

aggregate savings exceed aggregate consumption 

B

aggregate consumption equal aggregate savings

C

productive resources are in excess of the demand for them

D

productive resources are scarce relative to the demand for them

E
Q3

Economic development is reflected in

A

scarcity of capital

B

increase in the price level

C

decline in agricultural production

D

increase in production capacity

E
Q4

Which of the following will have a more destabilizing effect on the economy?

A

A tax on the prices of vehicles

B

A tax on petrol

C

A decrease in the supply of vehicles

D

Moderate increase in wages

E
Q5

An important feature of economic development is

A

population explosion

B

reduction in exports

C

high literacy level

D

low exports

E
Q6

An increase in the quantity of goods and service produced in a country which raises her national income is known as

A

economic development

B

economic growth

C

domestic investment

D

productivity 

E
Q7

Economic development is defined as

A

outward shift of the production possibility curve

B

availability of more goods and services

C

growth accompanied by qualitative change in living standards

D

growth in the national income

E
Q8

Development planning which takes an overall view of the economy is described as

A

Aggregate economic planning

B

Disaggregated economic planning

C

Sectorial economic planning

D

System economic planning

E
Q9

The most common index for measuring development is

A

the level of illiteracy

B

the per capita income

C

nutritional levels

D

population growth rate

E
Q10

The greatest revenue earning industry in Nigeria is

A

construction

B

agricultural

C

manufacturing

D

mining

E
Q11

A country is economically rich if

A

there is a lot of money in circulation relative to its population

B

it has a large volume of goods and services relative to its population

C

it has a large reserve of idle skilled manpower

D

there is a large amount of reserved mineral resource

E
Q12
The primary objective of Nigerian Industrial Development Bank (NIDB) is the provision of loans to
A
farmers
B
manufacturers
C
estate agents
D
transporters
E
Q13
West African countries have low level of economic development due to
A
underpopulation
B
inadequate labour
C
failure to plan
D
ineffective plan implementation
E
Q14
Every society strives to pursue all the following economic objectives except
A
increased production
B
price stability
C
an inequitable distribution of income
D
sustainable growth and development
E
Q15
The problem of small market in West Africa can be solved through
A
separate planning among the West African countries
B
meaningful co-operation among the West African countries
C
political stability in West Africa
D
imposition of high tariffs on West African exports
E
the central banks of West African countries
Q16
The West African Clearing House was established to
A
finance development projects in Africa
B
enhance financial transactions among member countries
C
provide technical assistance to member countries
D
stabilize price in development countries
E
service the debts of the African countries
Q17
Development plans in Nigeria have deviated from their targets due to
A
lack of manpower
B
political instability
C
high population growth rate
D
brain drain in the country
E
inadequate land
Q18
The level of economic development is low in Nigeria because
A
planning has no practical relevance
B
of the pattern of consumers' spending
C
the country is too large
D
of ineffective plan implementation
E
there is no unique planning model
Q19
The stability of the Nigeria economy depends mainly on the price of
A
groundnut
B
cotton
C
cocoa
D
mineral oil
E
palm kernel
Q20
If an economy grows at an annual rate of 6% of which 4% is deemed to be due in the productivity of labour and capital combined, the remaining 2% is generally attributed to the
A
amount of natural resources
B
improvement in banking services
C
size of the population
D
quality of human resources
E
improvement in government fiscal policies
Q21
Economic growth specifically refers to the
A
reliance on imported goods in preference to home-made goods
B
sustained increase in the output of goods and services oer head
C
changes in technical and institutional arrangements of the economy
D
continued increase in the depletion of a country's natural resources
E
increase in the total number of people in the economy
Q22

Economic growth is the

A

rate of increase in a country's full employment and real output

B

rate of increase in a nation's total population

C

rate of increase in inflation

D

growth in birth rate

E
Q23

External economies occur when

A

industries are scattered all around

B

a firm decides to expand

C

industries are producing below capacity

D

firms comprising an industry are concentrated in one area

E

a firm is located near raw materials