Waec Economics Past Questions and Answers

Question 41:

• WAEC 1988

(a) What is demand- pull inflation?
(b) Why is price control not suitable in checking this type of inflation?

Question 42:

• WAEC 1988

(a) Briefly outline the views of Thomas Malthus about population.
(b) How valid are such views about the Nigerian situation today?

Question 43:

• WAEC 1988

Explain the uses of national income figures.

Question 44:

• WAEC 1988

Given the figures below :
Price of commodity A in January = N5.00
Price of commodity A in February = N7.00
Quantity of A bought in January = 20 kg
Quantity of A bought in February = 16 kg (a) Calculate:
(i) Percentage change in quantity bought (% )
(ii) Percentage change in price of A (% )
(iii) Coefficient of price elasticity of demand (e)
(b) From your answer:
(i) is the demand elastic or inelastic?
(ii) How do you know this?

Question 45:

• WAEC 1988

Write short notes on
(a) Liquidity Ratio.
(b) Fixed Deposits.
(c) Money Market.