WAEC EXPO ON ECONOMICS THEORY & OBJ QUESTION & ANSWERS (Runz runs) what waec sets
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WAEC 2023/2024 EXPO RUNS, Runz ECONOMICS 1 & 2 QUESTIONS AND ANSWERS
In this article postutmeadmission.com.ng will be helping you with clues as to what to expect in waec economics questions and also how the exam will run, this is the more reason you should not joke with this article.
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Disclaimer: all content in this post is an opinion of the writer, necessarily 100% what WAEC will set but be rest assured that studying with this will dramatically boast your score.
WAEC economics questions remains an important and core subjects not only to social sciences students but also to art and sciences student as well, economics cut across various departments even in the university so passing economics is not an option to you.
WAEC ECONOMICS EXAMINATION SCHEME
for those asking how will the waec economics question paper will look like, now get the main gist/expo here as we unveil and give every details here with out hiding anything from you.
The WAEC economics QUESTIONS paper will be divided into 2 paper which will be objective and theory , let’s give you clues about the content of these TWO sections. Please take note that all the (two) sections must be written on the same DAY within a specified hour of time. Join us as we break down the two sections of economics question paper for you.
WAEC ECONOMICS paper 1: have it in mind that you will answer nothing less than 50 questions in the object (OBJ) section, each question carries 1 marks, all marks =50
WAEC ECONOMICS paper 2: this is the theory section, here you will be required to answer just 5 questions from 11 questions that will be given to you.
Note: unlike other subjects economics has nothing to do with practicals.
WAEC ECONOMICS OBJ SAMPLE
Check back 30 minutes to your exam
Large scale product is economically advantageous because it:
A. cost of administration.
B. there is likely an increase in the
individual tastes are being sacrifice by consumers
C. the firm can use labour-saving machinery.
D. the demand for a firm’s products becomes localized.
Population growth rate does not affect one of the following:
A.Rise in demand
B. High per capita income
D. Fall in standard of living
West Africa is characterise by personal savings :
A. the level of income of the people.
B. the refusal of banks to grant loans.
D. cheaper foreign currencies.
WAEC ECONOMICS hot key points to note
You are advise to go through this hot key points carefully :
- Study everything the term inflation, types of inflation and how they could be curb
- Try to understand the meaning of per capital income and how it is use to compare the standard of living
- Study the differences between gross domestic product and gross national product (learn how to calculate GDP)
- Study everything that has to do with demand and supply viz (laws governing it, graphs, etc) elasticity
- Note that utility is derived from consumption
- Study everything that has to do with perfect market, monopolistic competition, imperfect market etc
- Please note that the best method of production in a country with over population will be labor intensive.
- Understand what the term “value added” is all about
- Study everything that has to do with monetary policy
- Finally never fail to study about privatization and commercialization.
WAEC ECONOMICS theory sample
Write short note on the following :
- discount rate
- reserve ration
- margin requirements
- open market operations
List the monetary instrument use by the central bank of Nigeria
Explain in your own word what you understand by the Term ” OMO”[10 marks]
WAEC economics EXAMINATION INSTRUCTIONS
- Dont open your booklet unless you are told to do so
- Always write down your name on the WAEC attendance sheet at the end of the exam
- Make use of only HB pencil while shading your objectives questions.
- Remember that if you are seen with expo your WAEC result might be withheld (it shall not be your portion amen)
- Your names must be written in full, don’t forget to write the subject and exam number.
- ECONOMICS has minor calculations so come with your calculator
- Go through what you have written so far if they are error free before submitting