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Economics 2009 WAEC Past Questions

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51

The table below shows the natural growth gowth rate of the population of country N over a period of time. Use the information contained in the table to answer the following questions. 
 

Year Birth Rate per '000 Death Rate per '000 Natural Growth Rate
1971 45 32 L
1972 39 P 12.50
1973 26 22 Q
1974 R 22.50 4.50
1975 26.50 22.50 S
1976 20.50 T 3.00

(a) Determine L. P, Q, R, S and T. [6 marks] 
(b) With the use of a bar chart, graphically present the changes in the natural growth rate over the years. (Use of graph sheet is essential) [8 marks] 
(c) Outline any three reasons for changes in birth rate. [6 marks] 

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52

A village consists of twenty (20) households with the following annual incomes-
(Incomes $00) 30 20 50 40 60 40 40 50 20 60 80 40 20 20 70 40 70 30 40 80 
(a) Determine the (i) mean income: [4 marks] (ii) modal income; [ 2 marks] (iii) median income. [2 marks] 
(b) What is the range of income distribution? [2 marks] 
(c) Calculate the total tax that could be generated from the village if (i) a flat rate tax of 7% is imposed on all households; [5 marks] (ii) a flat rate tax of 15% is imposed on all households earning $4,000 per annum and above. [5 marks] 

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53

(a) Why is scarcity a fundamental problem in Economics? [6 marks] 
(b) Give a reason on why Economics is a (i) science; (ii) social science [3 marks each] 
(c) How do governments solve the problem of scarcity? [8 marks

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54

(a) Outline the chain of distribution for manufactured consumer goods. [4marks] 
(b) Explain the functions of the (i) wholesaler; (ii) retailer. [8 marks each] 

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55

(a) Define labour [4 marks]
(b) Give four factors that affect the efficiency of labour in your country. [16 marks]

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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts