WAEC 2022 Economics | Essay

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Question 1 View Details
A hypothetical national income data for a country in a particular year is presented below. ITEM $ MILLION Wages and salaries 250 Income paid abroad 75 Income from self employment 10 Stock appreciation 5 Interest 10 Income received from abroad 5 Rent 25 Depreciation allowance 2 Royalties 2 Profits and dividends 35 From the data above, answer the following questions.
Question Parts
(a)
Calculate the:
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Question 2 View Details
Question Parts
(a)
Identify the curves labelled X, Y and Z.
(b)
Calculate the total revenue of the producers:
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Question 3 View Details
Define the term limited liability.
Question Parts
(a)
Describe four differences between a public joint-stock company and a private joint-stock company.
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Question 4 View Details
Question Parts
(a)
Distinguish between labour force and efficiency of labour.
(b)
Describe five factors which determine the size of the labour force in a country.
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Question 5 View Details
Question Parts
(a)
What is a demand schedule?
(b)
Explain each of the following terms:
(c)
Using appropriate diagrams, explain how a change in the price of a commodity would influence the demand of its:
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Question 6 View Details
Question Parts
(a)
Explain the following types of taxes:
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Question 7 View Details
Question Parts
(a)
Distinguish between a:
(b)
Explain any four functions of commercial banks.
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Question 8 View Details
Question Parts
(a)
What is economic integration?
(b)
Outline any three short-comings of the Economic Community of West African States (ECOWAS).
(c)
Highlight any three achievements of the Economic Community of West African States (ECOWAS).
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