2009
Give five reasons for the continued existence of the Organization of Petroleum Exporting Countries (OPEC). [20 marks]
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2009 WAEC SSCE Economics Past Questions
2009
Explain any five objectives of the Economic Community of West African States (ECOWAS). [20 marks]
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2009
(a) With the aid of a diagram, explain the effects of fixing a price (i) above the equilibrium price, (ii) below the equilibrium price [5 marks each] (b) (i) What is an abnormal demand? [4 marks] (ii) Give two reasons f…
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2009
(a) What is (i) devaluation: (ii) depreciation of currency? [4 marks each] (b) Outline three measures that can be adopted to correct balance of payments deficit [12 marks]
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2009
(a) What is a capital market? [5 marks] (b) Describe any three instruments used in the capital market. [15 marks]
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2009
(a) Distinguish between the following pairs of cost concepts. (i) Fixed cost and variable cost. (ii) Real cost and money cost (iii) Implicit cost and explicit cost. [5 marks each] (b) (I) What would you recommend to…
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2009
(a) With examples. distinguish between direct and indirect tax, [8 marks] (b) Explain any four problems of tax collection in any West African country. [12 marks]
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2009
(a) Define labour [4 marks] (b) Give four factors that affect the efficiency of labour in your country. [16 marks]
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2009
(a) Outline the chain of distribution for manufactured consumer goods. [4marks] (b) Explain the functions of the (i) wholesaler; (ii) retailer. [8 marks each]
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2009
(a) Why is scarcity a fundamental problem in Economics? [6 marks] (b) Give a reason on why Economics is a (i) science; (ii) social science [3 marks each] (c) How do governments solve the problem of scarcity? [8 marks
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2009
A village consists of twenty (20) households with the following annual incomes- (Incomes $00) 30 20 50 40 60 40 40 50 20 60 80 40 20 20 70 40 70 30 40 80 (a) Determine the (i) mean income: [4 marks] (ii) modal income;…
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2009
The table below shows the natural growth gowth rate of the population of country N over a period of time. Use the information contained in the table to answer the following questions. YearBirth Rate per '000Death Rate pe…
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2009
choice is necessitated by
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2009
The concept of opportunity cost is also referred to as
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2009
The study of economics becomes necessary because of the
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2009
An economic system where the central planning authority determines what goods to produce and in what quantity is known as
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2009
In a capitalist economy, resources are
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2009
the economic system which relies mainly on the price mechanism for the allocation of scarce resources is known as
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2009
All the following are features of market economies except
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2009
A type of unemployment which occurs due to technological progress is called
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