2008
(a) What is public recurrent expenditure? [5 marks] (b) Give five reasons for the rapid increase in government expenditure in your country. [15 marks]
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2008 WAEC SSCE Economics Past Questions
2008
(a) Distinguish between a cheque and a bank note [8 marks] (b) What are the main problems of trade by barter? [12 marks]
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2008
Explain the following systems of agriculture as practiced in your country: (a) subsistence farming; [4 marks] (b) co-operative agriculture; [4 marks] (c) plantation agriculture; [4 marks] (d) mechanized agriculture; [4…
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2008
(a) Define the profit of a firm [4 marks] (b) With appropriate formula, explain the following revenue and cost concepts: (i) total revenue (TR); [4 marks] (ii) average revenue (AR): [4 marks] (iii) marginal revenue…
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2008
(a) What is a market? [4 marks] (b) Explain the main features of a perfectly competitive market. [16 marks]
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2008
Give four reasons why the governments of West African countries have found the policy of privatization attractive. [20 marks]
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2008
(a) Define the term limited liability [4 marks] (b) Explain any four problems of statutory public corporations in your country [16 marks]
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2008
(a) What is supply? [5 marks] (b) Describe any five determinants of supply. [15marks]
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2008
(a) Explain the term internal economies of scale. [4 marks] (b) Outline any four economies of scale a firm enjoys as it grows in size. [16marks]
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2008
Outline any five effects of high dependency ratio [20 marks]
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2008
The table below shows the budgetary allocation of a country to selected sectors of the economy in a particular year. Study the table carefully and answer the questions that follow.SectorsAmount ( $ Million)Education6,250…
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2008
The demand function for a commodity is given as Qd = 21 - 3p. (a) Use the demand function to complete the table below. [6 marks]Price $013456Quantity demanded (Kg)(b) Draw the demand curve for the completed schedule in 1…
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2008
production covers all the following except when
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2008
Productive resources can also be called
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2008
The main concern of economists is to
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2008
The gap between demand and supply curves above the equilibrium price is
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2008
If good P and Q are jointly demanded, an increase in the price of P will likely
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2008
which of the following factors does not cause a change in demand
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2008
The theory of diminishing marginal utility states that as more units of a commodity are consumed , the
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2008
Small scale enterprises are important in a country because
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