2021
(a) Distinguish between domestic trade and external trade.(b) Distinguish between terms of trade and balance of trade(c) Outline four causes of balance of payments deficit in a country
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2021 WAEC SSCE Economics Past Questions
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2021
(a) Explain how the Central Bank controls money supply through the use of: (i) open market operation (ii) bank rate.(b) Outline four functions performed by the Central Bank of your country.
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2021
(a) State three characteristics of perfect competition,(b) With the aid of diagrams, explain equilibrium positions of a perfectly competitive firm in the: (i) short-run: (ii) long-run
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2021
(a) Define price elasticity of demand(b) Distinguish between elastic demand and Inelastic demand(C) Using diagrams, explain what happens to a trader's total revenue demand for his product: (i) elastic (ii) inelastic
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2021
(a) Define product retailing(b) Outline any three roles performed by the wholesaler to the manufacturer(c) Identify any three problems associated with distribution of products
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2021
(a) What Is economies of scale?(b) Outline three internal economics of scale a firm can enjoy(c) State three factors that can influence where a firm is sited.
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2021
Table 2 below shows the unit prices and quantities of hats produced by a firm.Study it and answer the questions that follow.QuantityUnit Price (S)Total Revenue (S)Marginal Revenue (S)Average Revenue (S)101801800-18020150…
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2021
Table 1 below shows the distribution of the population of a country in various occupations. Study it and answer the questions that follow.OCCUPATIONTOTALShoe Production Banking Fish Processing Warehousing Mining Fish Far…
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2021
Abundant natural resources do not contribute to economic growth in developing countries because of_________
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2021
Examples of land that are non-renewable include___________
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2021
Balance of payments and trade problems that arose after the world wars were resolved by the____________
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2021
A customs union is an economic grouping which has___________
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2021
A country may be able to earn more from exports if she_____________
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2021
If a country imposes a barrier on trade, the resultant effect will be _________
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2021
If a country's import bill is high, she can encourage exports by___________
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2021
Records of a country's invisible trade are recorded in her_____________-
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2021
A measure that can be adopted to correct a country 's balance of payments deficit is ____________
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2021
A floating exchange rate means that the exchange rate is fixed by the __________
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2021
People who dispose of their assets are expected to pay ______________
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2021
In order to enable the government of a country to increase its tax revenue, it will be advisable for it to increase taxes on_______
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