1995 Economics WAEC SSCE (School Candidates) May/June

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Economics 1 - Objective

1. Question 1
   1. Option a
   2. Option b
   3. Option c
   4. Option d
2. Question 2
   1. Option a
   2. Option b
   3. Option c
   4. Option d
3. Question 3
   1. Option a
   2. Option b
   3. Option c
   4. Option d
4. Question 4
   1. Option a
   2. Option b
   3. Option c
   4. Option d
5. Question 5
   1. Option a
   2. Option b
   3. Option c
   4. Option d
6. Question 6
   1. Option a
   2. Option b
   3. Option c
   4. Option d
7. Question 7
   1. Option a
   2. Option b
   3. Option c
   4. Option d
8. Question 8
   1. Option a
   2. Option b
   3. Option c
   4. Option d
9. Question 9
   1. Option a
   2. Option b
   3. Option c
   4. Option d
10. Question 10
    1. Option a
    2. Option b
    3. Option c
    4. Option d
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

Economics 2 - Essay

Section A

Answer one question only from this section.

1. Use the table to answer the following questions:
   1. Complete table by calculating the missing figures P, Q, R, S, T.
   2. Draw the Total Product (TP) and Marginal Product (MP) curve in one diagram. (No graph sheet is required).
   3. Explain the relationship between TP and MP.
2. Use the schedule to answer the following questions:
   1. At what price and quantity does the market attain equilibrum and why?
   2. At what prices does the market exhibit excess demand and by how many units?
   3. At what prices does the market exhibit excess supply and by how many units?
   4. At what price will the supplier be willing to sell most? What quantity will he be willing to sell at that price?

Section B

Answer three questions only from this section.

3. 1. What is meath by the supply of commodity?
   2. What are the probable factors that can bring about changes in the supply of beans?
4. Describe the effects of inflation on the economy of a country.
5. 1. What is a tax?
   2. Highlight the various tax systems.
6. Give five reasons why Government participates in business enterprises
7. 1. Define tariffs
   2. What are the reasons for imposing tariffs?
8. In what ways will the efficient functioning of the Economic Community of West African States (ECOWAS) hasten the economic growth of its member states?
9. Why are West African countries referred to as under-developed?
10. Identify the likely problems that can be encountered in the compilation of National Income Account in Nigeria.