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2001 WAEC Economics Theory Countries Population (in million) Gross National product (in million Dollars) R 120 2,500 S 180...

Economics
WAEC 2001

Countries Population (in million) Gross National product (in million Dollars)
R 120 2,500
S 180 12,000
T 60 4,000
U 100 6,500
V 25 2,500

(a)(i) Calculate the per capita incomes of countries R, S, T, U and V.
(ii) Determine the range of the per capita incomes of the five countries.
(iii) Which one of the countries enjoyed the highest standard of living?

(b) Express the population of each of countries R, S, T, U and V as a percentage of the total population of all the countries.

(c) Draw a simple bar chart showing all the countries and their respective per capita incomes. 
 

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Explanation
Countries Population (in million) GNP (in million Dollars)
R 120 2,500
S 180 12,000
T 60 4,000
U 100 6,500
V 25 2,500

(a)(i) R, per capita income = \(\frac{2500}  {120}\) = $20.83 

S,    per capita income = \(\frac{12,000} {80}\) = $66.66

T,    per capita income = \(\frac{4,000} {60}\) = $65.66

U,    per capita income = \(\frac{6,500} {100}\) = $65.00

V,    per capita income = \(\frac{2,500} {25}\) = $100.00 

(ii) Range $100 - $20.83 = $79.17

(iii) Country V. 

(b)(i) R,   120  x 100  = 24.74%
                485      1      

S,    180   x 100   = 37.11%
        485       1

T,     60    x  100  = 12.37%
       485        1

U,    100   x 100  = 20.62%
        485        1

V,   25  x 100  = 5.15% 
     485     1

 


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