Waec Economics Past Questions and Answers

Question 1196:

• WAEC 2010

(a) Explain with examples the following types of production (i) Primary [4 marks] (ii) Secondary [4 marks] (iii) Tertiary [4 mark]
(b) Give two reasons why primary production pre-dominates in developing countries [8 marks]

Question 1197:

• WAEC 2010

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

Question 1198:

• WAEC 2010

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

Question 1199:

• 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 1200:

• 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]