2001 WAEC SSCE Economics Past Questions

2001

(a) What is balance of payments deficit?(b) How is it financed?

2001

Distinguish between a perfect market and a monopolistic market.

2001

(a) What is economic integration?(b) Outline the characteristics of a customs union.

2001

What factors determine the size of a firm?

2001

(a) Define labour as a factor of production.(b) Explain five characteristics of labour.

2001

Distinguish between: (a) Fixed Cost and Variable Cost; (b) Marginal Cost and Marginal Revenue; (c) Total Cost and Total Revenue; (d) Average Cost and Average Revenue

2001

What are the instruments used by the Central Bank to control the supply of money in any economy?

2001

(a) Explain the concept of diminishing marginal utility.(b) How is utility maximized?

2001

(a) What is under-population?(b) Under what conditions will it be advantageous for a country to promote population growth?

2001

Why are many West African countries trying to adopt a free market system?

2001

(a)(i) Calculate the per capita incomes of countries R, S, T, U and V. (ii) Determine the range of the per capita incomes of the five countries. (iii) Which one of the countries enjoyed the highest standard of living?(…

2001

The table below shows the various possible combinations of military and civilian goods produced by a country, using the available resources and technology. Use the table to answer the questions that follow. Military good…

2001

Quasi-rent refers to

2001

The economic system in which resource are privately owned dis known as

2001

Economic problems arises because

2001

The dispersal of people in a country is called

2001

In which of the following economic system is the consumer referred to as the king?

2001

The difference between the highest and lowest in a set of data is

2001

Which of the following is the function of an entrepreneur?

2001

Reward for entrepreneurship is

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