2020
(a) Differentiate between subsistence farming and commercial farming.(b) State four features of subsistence farming.(c) Outlines two positive and two negative effects of mining on the economy of West African countries
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2020 WAEC SSCE Economics Past Questions
2020
(a) Distinguish between competitive demand and joint demand.(b) Using diagrams, explain how the following factors will affect the equilibrium price and quantity of commodity R in the market i. an increase in the price o…
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2020
a. What is money?b. Explain the following concepts: i. value of money: ii. demand for money,(c) ldentify any four determinants of transaction demand for money
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2020
(a) Define tariff.(b) State the following laws: i. The law of absolute cost advantage: ii. The law of comparative cost advantage.(c) Outline any four assumptions behind the law of comparative cost advantage
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2020
(a) Distinguish between the following pairs of terms: i. capital expenditure and recurrent expenditure: ii. fiscal policy and monetary policy.b. Explain four reasons why the government of a country imposes taxes.
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2020
(a) Define consumer goods.(b) Explain the following forms of capital with an example each: i. fixed capital ii. social capital iii. circulating capital(c) Outline three reasons for the low level of savings in a country
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2020
The figure represents the production possibility curve of a nation, Use it to answer the questions that follow(a) What is the opportunity cost of: i. producing 30 units of cocoa; ii. increasing textile production from…
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2020
The table below shows the workers engaged by an agricultural firm over a period of time. Study it and answer the questions that follow;Number of workersTotal productMarginal productAverage product0000120202025030z3702023…
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2020
The exploitation of mineral resources constitutes which form of production?
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2020
Free trade is one in which
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2020
In order to discourage the importation of manufactured goods, a country should adopt
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2020
The foremost objective of the International Bank of Reconstruction and Development (IBRD) is to
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2020
The principle of comparative advantage encourages a country to
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2020
Dumping is selling goods in a foreign market at a price
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2020
A country is allowed to import just 50,000 tonnes of rice annually. This describes
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2020
A country should embark on development planning to ensure that
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2020
Expenditure on food takes a large proportion of the incomes of people in
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2020
Mr. X and Mrs. Y pay $500.00 and $1,400.00 as taxes on their earning of S5,000.00 and $7,000.00 respectively. The system of taxation employed is
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2020
During inflation, the appropriate fiscal measure toadopt is to
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2020
Tools of monetary policy do not include
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