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Economics 2011 WAEC Past Questions

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46

The following are the loans granted by a commercial bank to different categories of individuals. Use the information to answer the questions that follow: Bankers $8,000, Farmers $8,000, Miners $7,000, Retailers $5,000, Tailors $4,000 Teachers $6,000, Drivers $4,000, Fishermen $3 000.
(a) Arrange the information in the form of a table grouping the individuals into: (i) Primary sector; (ii) Secondary sector; (iii) Tertiary sector. 
(b) Express the loan to each sector of a ratio of the total loan granted 
(c) Present the total loans granted to the sectors in a simple bar chart, (Use of graph sheet is essential) 

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47

(a) What is centrally planned economy? 
(b) Outline any four features of a capitalist economy. 

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48

(a) Define mobility of labour.
(b) Describe any four factors influencing the supply of labour. 

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49

(a) What is international trade? 
(b) Explain any four advantages of international trade. 

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50

(a) Outline any five reasons why small scale firms are common in West Africa. 
 

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