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WAEC Economics 2007 Question 43

Question 43

Balance of Payments and Exchange Rates

Which of the following contributes the highest amount of foreign exchange to the economy of West African nations?

  1. A.Construction, manufacturing and banking
  2. B.Shipping, trading and fishing
  3. C.Power, telecommunications and sports
  4. D.Extraction, farming and tourism.
Show the answer and explanation

Answer: D (Extraction, farming and tourism.)

Explanation

West African exports are mainly minerals (oil, gold), farm produce (cocoa) and tourism.