2015 Economics WAEC SSCE (School Candidates) May/June: Difference between revisions

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(Created page with "{{PageUnderConstruction}} === Economics 1 - Objective === <ol> <li>Question 1 <ol type="a"> <li>Option a</li> <li>Option b</li> <li>Option c</li> <li>Option d</li> </ol> </li> <li>Question 2 <ol type="a"> <li>Option a</li> <li>Option b</li> <li>Option c</li> <li>Option d</li> </ol> </li> <li>Question 3 <ol type="a">...")
 
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=== Economics 1 - Objective ===
=== Economics 1 - Objective ===
<ol>
<ol>
     <li>Question 1
     <li>Economics is regarded as a science because it
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>studies laws that govern human behaviour.</li>
             <li>Option b</li>
             <li>uses scientific method to explain human behaviour.</li>
             <li>Option c</li>
             <li>makes use of controlled experiments to explain human behaviour. </li>
             <li>Option d</li>
             <li>makes use of machines to study human behaviour.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 2
     <li>Which of the following cannot be described as land?
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Forest.</li>
             <li>Option b</li>
             <li>Diamond.</li>
             <li>Option c</li>
             <li>Roads.</li>
             <li>Option d</li>
             <li>Crude oil.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 3
     <li>An outward shift of the production possibility curve shows that
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Production is shifting to the right.</li>
             <li>Option b</li>
             <li>Resources are underutilized.</li>
             <li>Option c</li>
             <li>Economic growth has taken place.</li>
             <li>Option d</li>
             <li>Factors of production are moving outward.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 4
     <li>The following constitute the criteria for identifying an economic system except
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Ownership of resources.</li>
             <li>Option b</li>
             <li>Scarcity of resources.</li>
             <li>Option c</li>
             <li>Method of decision making.</li>
             <li>Option d</li>
             <li>Motivation for production.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 5
     <li>A disadvantage of the mean as a measure of central tendency is that, it
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>is affected by extreme values.</li>
             <li>Option b</li>
             <li>Can only be used for continuous data.</li>
             <li>Option c</li>
             <li>Cannot be used to measure the qualities of a population.</li>
             <li>Option d</li>
             <li>cannot be determined in grouped data.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 6
     <li>Which of the following is not an effect of many middlemen in the chain of distribution?
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Shortage of commodities.</li>
             <li>Option b</li>
             <li>Low retail prices.</li>
             <li>Option c</li>
             <li>Hoarding of goods.</li>
             <li>Option d</li>
             <li>High retail prices.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 7
     <li>If the price of flour rises, then bread's
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Demand curve will shift to the left while supply curve will shift to the right.</li>
             <li>Option b</li>
             <li>Supply curve will shift to the left.</li>
             <li>Option c</li>
             <li>Supply curve will shift to the left.</li>
             <li>Option d</li>
             <li>Demand curve will shift to the right while supply curve remains unchanged.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 8
     <li>Which of the following is not a reason for abnormal demand?
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Price of the commodity.</li>
             <li>Option b</li>
             <li>Goods of ostentation.</li>
             <li>Option c</li>
             <li>Giffen goods.</li>
             <li>Option d</li>
             <li>Rare commodity.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 9
     <li>Increase in production subsidies will shift
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>The demand curve to the left.</li>
             <li>Option b</li>
             <li>The supply curve will shift to the right.</li>
             <li>Option c</li>
             <li>Both the supply and demand curves to the left.</li>
             <li>Option d</li>
             <li>The supply curve to the left and demand curve to the right.</li>
         </ol>
         </ol>
     </li>
     </li>
     <li>Question 10
     <li>The market supply curve slopes upwards from left to right indicating that
         <ol type="a">
         <ol type="a">
             <li>Option a</li>
             <li>Producers pay high taxes.</li>
             <li>Option b</li>
             <li>Two commodities can be supplied at the same time.</li>
             <li>Option c</li>
             <li>At a lower price, less is supplied</li>
             <li>Option d</li>
             <li>At a lower price, more is supplied and demanded.</li>
         </ol>
         </ol>
     </li>
     </li>

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Economics 1 - Objective

  1. Economics is regarded as a science because it
    1. studies laws that govern human behaviour.
    2. uses scientific method to explain human behaviour.
    3. makes use of controlled experiments to explain human behaviour.
    4. makes use of machines to study human behaviour.
  2. Which of the following cannot be described as land?
    1. Forest.
    2. Diamond.
    3. Roads.
    4. Crude oil.
  3. An outward shift of the production possibility curve shows that
    1. Production is shifting to the right.
    2. Resources are underutilized.
    3. Economic growth has taken place.
    4. Factors of production are moving outward.
  4. The following constitute the criteria for identifying an economic system except
    1. Ownership of resources.
    2. Scarcity of resources.
    3. Method of decision making.
    4. Motivation for production.
  5. A disadvantage of the mean as a measure of central tendency is that, it
    1. is affected by extreme values.
    2. Can only be used for continuous data.
    3. Cannot be used to measure the qualities of a population.
    4. cannot be determined in grouped data.
  6. Which of the following is not an effect of many middlemen in the chain of distribution?
    1. Shortage of commodities.
    2. Low retail prices.
    3. Hoarding of goods.
    4. High retail prices.
  7. If the price of flour rises, then bread's
    1. Demand curve will shift to the left while supply curve will shift to the right.
    2. Supply curve will shift to the left.
    3. Supply curve will shift to the left.
    4. Demand curve will shift to the right while supply curve remains unchanged.
  8. Which of the following is not a reason for abnormal demand?
    1. Price of the commodity.
    2. Goods of ostentation.
    3. Giffen goods.
    4. Rare commodity.
  9. Increase in production subsidies will shift
    1. The demand curve to the left.
    2. The supply curve will shift to the right.
    3. Both the supply and demand curves to the left.
    4. The supply curve to the left and demand curve to the right.
  10. The market supply curve slopes upwards from left to right indicating that
    1. Producers pay high taxes.
    2. Two commodities can be supplied at the same time.
    3. At a lower price, less is supplied
    4. At a lower price, more is supplied and demanded.
  11. Question 11
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  12. Question 12
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  13. Question 13
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  14. Question 14
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  15. Question 15
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  16. Question 16
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  17. Question 17
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  18. Question 18
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  19. Question 19
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  20. Question 20
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  21. Question 21
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  22. Question 22
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  23. Question 23
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  24. Question 24
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  25. Question 25
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  26. Question 26
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  27. Question 27
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  28. Question 28
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  29. Question 29
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  30. Question 30
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  31. Question 31
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  32. Question 32
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  33. Question 33
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  34. Question 34
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  35. Question 35
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  36. Question 36
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  37. Question 37
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  38. Question 38
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  39. Question 39
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  40. Question 40
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  41. Question 41
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  42. Question 42
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  43. Question 43
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  44. Question 44
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  45. Question 45
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  46. Question 46
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  47. Question 47
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  48. Question 48
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  49. Question 49
    1. Option a
    2. Option b
    3. Option c
    4. Option d
  50. Question 50
    1. Option a
    2. Option b
    3. Option c
    4. Option d

Economics 2 - Essay

Section A

Answer one question only from this section.

  1. Question 1
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
  2. Question 2
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v

Section B

Answer three questions only from this section.

  1. Question 3
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
  2. Question 4
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
  3. Question 5
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
  4. Question 6
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
  5. Question 7
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
  6. Question 8
    1. Sub-question a
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    2. Sub-question b
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    3. Sub-question c
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    4. Sub-question d
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    5. Sub-question e
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
    6. Sub-question f
      1. Sub-question i
      2. Sub-question ii
      3. Sub-question iii
      4. Sub-question iv
      5. Sub-question v
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