Economics 2009 Waec Past Questions and Answers

Question 61 :

• WAEC 2009

(a) With the aid of a diagram, explain the effects of fixing a price (i) above the equilibrium price,
(ii) below the equilibrium price [5 marks each]
(b) (i) What is an abnormal demand? [4 marks] (ii) Give two reasons for its occurrence [6 marks]

Question 62 :

• WAEC 2009

Explain any five objectives of the Economic Community of West African States (ECOWAS). [20 marks]