Economics 2009 Waec Past Questions and Answers

Question 51 :

• WAEC 2009

The headquarters of the African Development Bank (ADB) was originally located at

A. Cotonou
B. Harare
C. Abidjan
D. Lagos

Question 52 :

• WAEC 2009

The table below shows the natural growth gowth rate of the population of country N over a period of time. Use the information contained in the table to answer the following questions.

Year	Birth Rate per '000	Death Rate per '000	Natural Growth Rate
1971	45	32	L
1972	39	P	12.50
1973	26	22	Q
1974	R	22.50	4.50
1975	26.50	22.50	S
1976	20.50	T	3.00

(a) Determine L. P, Q, R, S and T. [6 marks]
(b) With the use of a bar chart, graphically present the changes in the natural growth rate over the years. (Use of graph sheet is essential) [8 marks]
(c) Outline any three reasons for changes in birth rate. [6 marks]

Question 53 :

• WAEC 2009

A village consists of twenty (20) households with the following annual incomes-
(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: [4 marks] (ii) modal income; [ 2 marks] (iii) median income. [2 marks]
(b) What is the range of income distribution? [2 marks]
(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; [5 marks] (ii) a flat rate tax of 15% is imposed on all households earning $4,000 per annum and above. [5 marks]

Question 54 :

• WAEC 2009

(a) Why is scarcity a fundamental problem in Economics? [6 marks]
(b) Give a reason on why Economics is a (i) science; (ii) social science [3 marks each]
(c) How do governments solve the problem of scarcity? [8 marks

Question 55 :

• WAEC 2009

(a) Outline the chain of distribution for manufactured consumer goods. [4marks]
(b) Explain the functions of the (i) wholesaler; (ii) retailer. [8 marks each]