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WAEC Economics questions: International economic organisations

16 questions with answers and explanations. Tap an option to check yourself.

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All topicsAgriculture in Nigeria · 15Business organisations · 14Economic growth and development · 15Economic systems · 13Economics as a science · 15Factors of production · 15Financial institutions · 14Industry and industrialisation · 15International economic organisations · 16International trade · 16Market structures · 15Methods and tools of economic analysis · 14Money and inflation · 17National income · 18Natural resources and the Nigerian economy · 15Population · 15Public finance · 14The labour market · 15Theory of consumer behaviour · 15Theory of costs and revenue · 16Theory of demand · 21Theory of price determination · 14Theory of production · 14Theory of supply · 16

  1. Question 1· International economic organisations· WAEC

    The World Bank (IBRD) was established mainly to

    Explanation and discussion

  2. Question 2· International economic organisations· WAEC

    A trader can move goods from Nigeria to Ghana with fewer barriers because both countries belong to

    Explanation and discussion

  3. Question 3· International economic organisations· WAEC

    The IMF mainly helps member countries with

    Explanation and discussion

  4. Question 4· International economic organisations· WAEC

    The organisation that helps member countries with balance of payments difficulties is the

    Explanation and discussion

  5. Question 5· International economic organisations· WAEC

    The International Monetary Fund (IMF) mainly helps member countries to

    Explanation and discussion

  6. Question 6· International economic organisations· WAEC

    Nigeria is a member of OPEC, an organisation of

    Explanation and discussion

  7. Question 7· International economic organisations· WAEC

    ECOWAS was established in 1975 to

    Explanation and discussion

  8. Question 8· International economic organisations· WAEC

    OPEC is an organisation of

    Explanation and discussion

  9. Question 9· International economic organisations· WAEC

    The World Trade Organisation promotes

    Explanation and discussion

  10. Question 10· International economic organisations· WAEC

    The Economic Community of West African States was established in

    Explanation and discussion

  11. Question 11· International economic organisations· WAEC

    A free trade area is an arrangement in which member countries

    Explanation and discussion

  12. Question 12· International economic organisations· WAEC

    The African Development Bank (AfDB) mainly provides

    Explanation and discussion

  13. Question 13· International economic organisations· WAEC

    ECOWAS aims mainly to

    Explanation and discussion

  14. Question 14· International economic organisations· WAEC

    The main aim of the Economic Community of West African States (ECOWAS) is to

    Explanation and discussion

  15. Question 15· International economic organisations· WAEC

    The organisation that sets rules for international trade and settles trade disputes is the

    Explanation and discussion

  16. Question 16· International economic organisations· WAEC

    The World Bank (IBRD) was set up mainly to

    Explanation and discussion

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