Waec Economics 2013 Past Questions and Answers

Question 56:

• WAEC 2013

(a) Highlight the difference between creeping inflation and hyper inflation.
(b) List any four negative effects of inflation.
(c) Outline four ways in which the government of your country can control inflation.

Question 57:

• WAEC 2013

(a) What is perfect competition?
(b) With the aid of diagrams, compare the short run equilibrium positions of a perfect competitor and an imperfect competitor.
(c) State any two features of an imperfect market.

Question 58:

• WAEC 2013

(a) Distinguish between cash ratio and special deposits.
(b) Explain how cash ratio and special deposits are used as instruments of monetary policy.
(c) Describe any two instruments of fiscal policy in West Africa.