Waec Economics 2010 Past Questions and Answers

Question 56:

• WAEC 2010

(a) What is a partnership? [4 marks)
(b) State any two advantages and any two disadvantages of a partnership [16 marks]

Question 57:

• WAEC 2010

(a) What is privatization? [4 marks]
(b) Give four reasons for government participation in economic activities in your country [16 marks]

Question 58:

• WAEC 2010

(a) Distinguish between location of industries and localization of industries [5 marks]
(b) Describe any three advantages and any two disadvantages of locating industries in rural areas [15 marks]

Question 59:

• WAEC 2010

(a) Explain the function of money as a (i) measure of value [5 marks] (ii) store of value. [5 marks]
(b)Show how inflation affects these two functions of money [10 marks]

Question 60:

• WAEC 2010

(a) What is a commercial bank? [4 marks]
(b) Describe any four ways by which the Central Bank controls the amount of credit given by the commercial bank [16 marks]