Waec Economics 2011 Past Questions and Answers

Question 51:

• WAEC 2011

(a) Outline any five reasons why small scale firms are common in West Africa.

Question 52:

• WAEC 2011

(a) Explain with examples the terms competitive demand and complementary demand.
(b) With the aid of diagrams, analyse the effect of a decrease in the import duty on cars on the price and consumption of petrol.

Question 53:

• WAEC 2011

(a)What is the demographic transition theory?
(b) Explain the three stages of the theory.

Question 54:

• WAEC 2011

(a) Differentiate between shares and debentures.
(b) Identify any four problems encountered by firms in raising capital,

Question 55:

• WAEC 2011

(a) Describe the following types of co-operative societies;
(i) consumers' co-operatives;
(ii) producers' co-operatives;
(iii) thrift and credit co-operatives.
(b) Highlight any two problems faced by co-operative societies in West Africa