WAEC Economics Trial Questions


1.a) Distinguish between underemployment and disguised unemployment.

b) Outline any four measures that can be adopted by the government of your country to solve the problem of unemployment.

2. (a)  What is meant by the value of money?

(b)  State any four qualities of money.

(c)  Explain the motives for holding money.

3. a)   Define supply.

(b)   With the aid of a diagram, explain what is meant by a change in supply.

(c)   Explain any three factors that cause changes in supply.

4. a)    What is a customs union?

(b)    Explain any four ways in which a customs union can speed up the economic growth of its members.

5. a)     What is subsistence farming?
b)    State any two objectives of agricultural policies in West Africa.

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c)    Outline any four ways through which agricultural production can
be improved in West Africa.

6. a)   Briefly explain the following concepts:

i) Economic development;
ii) Economic development planning.

(b)   Highlight any five reasons why the West African countries engage in development planning.

7. a)   What is a minimum wage?
b) Distinguish between money wage and real wage.
c) Outline any four reasons for the difference in wages paid to different categories of workers.

8. a)   Highlight any four features of cooperative societies.

b)   Identify any four sources of finance available to business enterprises in your country.

9. a)  Distinguish between a merchant bank and a commercial bank.

b)  Outline any four functions of a merchant bank.

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10. a)     What are external economies of scale?
b)   Describe any four external economies of scale.

c)   State any three limitations to the growth of firms.

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DISCLAIMER: The questions contained on this website are not in any way inferred as the original questions you will write on your WASSCE.

The contents on this website are purely educational and suited for students preparing for the said exams.


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