The 2023 WASSCE is still ongoing. On Tuesday, 19th September, 2023, Economics Paper 1 and 2 will be written. This article will provide all candidates with likely questions for the Economics paper.
So far, our projected topics and likely questions haven’t let candidates down. Take advantage of this platform and produce the best grades in your exams.
1. A town consists of twenty (20) households with the following annual incomes ($00) 30 20 50 40 60 40 40 50 20 60 80 40 20 20 70 40 70 30 40 80
(a) Determine the
(i) mean income
(ii) modal income
(iii) median income
(b) What is the range of income distribution?
(c) Calculate the total tax that could be generated from the village if
(i) a flat rate tax of 7% is imposed on all households;
(ii) a flat rate tax of 15% is imposed on all households earning $4,000 per annum and above.
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2. (a) With examples. distinguish between direct and indirect tax,
(b) Explain any four problems of tax collection in any West African country.
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3. (a) Distinguish between the following pairs of cost concepts.
(i) Fixed cost and variable cost.
(ii) Real cost and money cost
(iii) Implicit cost and explicit cost.
(b) (i) What would you recommend to a firm whose average cost is greater than its price?
(ii) Give a reason for your answer In (b)(i) above.
4. (a) What is a capital market?
(b) Describe any three instruments used in the capital market.
5. (a) What is (i) devaluation:
(ii) depreciation of currency?
(b) Outline three measures that can be adopted to correct balance of payments deficit
6: a) What is meant by the following:
i) Economic growth
ii) Economic development
b) Describe any four ways by which
economic growth of a country can be
promoted
7: a) Describe the vicious circle of poverty
b. How does rapid population growth make it difficult to break the vicious cycle of poverty