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WASSCE Economics Trial Questions For 2021 Candidates

Wassce Economics Essay Trial Questions For 2021 Candidates: If you are a candidate preparing to take the Wassce Economics  Easy Trial Questions For 2021 exam, then find some likely Wassce Economics Easy Trial Questions for 2021 below.

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Make sure to practice these questions so you’ll know how to answer essay questions on the WAEC final exams.

These questions were carefully chosen from past waec questions and are likely to be repeated by waec. As a disclaimer, the questions listed below are not “Appor,” but rather trial questions to aid you in your preparation for your Economics Examination.

WASSCE Economics Trial Questions For 2021 Candidates


1. What is a trade union? [2 marks]

2. Describe any four functions of trade union [12 marks]

3. Outline any two weapons used by trade unions to achieve their objectives. [6 marks]

4. Outline any four objectives of a price control policy [ 8 marks]

5. Highlight four effects of a maximum price control policy [ 12 marks]

6. What are infant industries? [2 marks]

7. State any four reasons for protecting infant industries. [12 marks]

8. Outline any three reasons by which industries can be financed in West Africa [ 6 marks]

9. What is balance of payment disequilibrium? [2 marks]

10. Explain the two types of balance of payment disequilibrium . [6 marks]

11. Highlight any four reasons most West African countries are experiencing balance of payment problem [12 marks]

12. What is deflation? [2 marks]

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13. Outline any three positive effects of deflation. [9marks]

14. Explain the way by which inflation affects any three functions of money. [9 marks]

15. What is positive tarrif? [2 marks]

16. Outline any four reasons in favour of positive tariff. [12 marks]

17. Stat any two reasons against positive tariff. [6 marks]

18. The table below shows the incomes and rates of the income tax levied on four professional in an economy. Use the data to answer he questions that follow.

Profession Income per
month ($)
Tax rate
(%)
Disposable
income ($)
Doctor 8,000 10
Engineer 7,000 12
Civil Servant 5,000 18
Nurse 6,000 15

 

(i) Calculate the disposable incomes of the four individuals. [12 marks]
(ii) What system of taxation was employed? [2 marks]
(iii) Give a reason for your answer in (ii) [2 marks]
(iv) With the aid of a diagram, explain the system of taxation employed in (ii). [4 marks]

19. The total fixed cost (TFC) and the total cost (TC) functions of a hypothetical firm are shown in the graph below. Study it and answer the questions that follow.

Economics
(a) Determine the firm’s

(i) Variable cost at output levels 2, 4, and 6; [6 marks]

(ii) Average total cost at output levels 2 and 3; [4 marks]

(iii) Marginal Cost at output levels 4 and 6; [4 marks]

(b) If the price of the firm’s product is $40, calculate the firm’s profit or loss when the following units are sold:

(i) 2 units [3 marks]
(ii) 4 units [3 marks]

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