2014
(a) What is a specific tax? (2 marks)(b) Explain with the aid of diagrams, the effects of specific tax on a commodity that has a: (i) perfectly elastic demand; (6 marks) (ii) perfectly inelastic demand(c) State two diffe…
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2014 WAEC SSCE Economics Past Questions
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2014
(a) What is the normal chain of distribution? (2 marks)(b) State any three functions of middlemen in the chain of distribution. (6 marks)(c) Highlight any four problem involved in the distribution of goods in West Africa…
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2014
(a) Define gross national income. (2 marks)(b) Using appropriate examples, distinguish between: (i) Personal income and disposable income. (6 marks) (ii) Nominal income and real income. (6 marks)(c) Outline any three use…
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2014
(a) Highlight any four differences between public limited liability company and a private limited liability company. (8 marks)(b) Explain any four advantages a limited liability company. (2 marks)
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2014
(a) What is crop farming? (2 marks)(b) Outline any four measures that can be adopted to increase crop production in your country. (12 marks)(c) State any two contributions of the industrial sector to agriculture in your…
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2014
(a) Define occupational mobility of labour. (2 marks)(b) Identify any four barriers to occupational mobility of labour. (12 marks)(c) State any two factors that will make labour efficient. (6 marks)
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2014
The table below presents the price and quantity supplied by a palm oil producer. Use the information in the table to answer the following questions.Price ($)Quantity Supplied (gallons)620012300184002050024600(a) If the p…
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2014
The table below shows an extract from balance of payments for country A. Use the table to answer the questions that follow: Balance of payments itemsItems of transactionReceipts ($) Payment ($) 1 Merchandise (visible tra…
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2014
Human want are unlimited because
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2014
A normal supply curve has a positive slope which indicates that
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2014
Households make economic decisions because they want to
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2014
Which of following is not a feature of socialism?
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2014
In a centrally planned economy, what to produce is
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2014
A basic economic problem of any society is
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2014
A declining population is one in which the population is
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2014
The components of a three-sector economy are
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2014
Livestock production in West Africa is hindered mainly by
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2014
Disposable income is the income earned
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2014
To control inflation, the central bank of a country may adopt
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2014
Goods consumed out of habit have
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