WAEC Government Questions And Answers 2021, Verified Legit WAEC Government Answers for Objective and Essay. Verified expo for WAEC Government 2021 for (May/June) 2021 Government examination. WAEC Government objective and theory answers for sure distinction in WAEC result in Government expo runz .The West African Examinations Council (WAEC) is an examination board established by law to determine the examinations required in the public interest in the English-speaking West African countries, to conduct the examinations and to award certificates comparable to those of equivalent examining authorities internationally..
If you would like to get the question paper and answer direct to your number through WASAP , Send #300 MTN CARD To 09056757610. Once You have done that Send us your WASAP Number to 09056757610. Please do not call. Only Message.
We want you to have excellent result in your WAEC EXAMINATION. We understand that you are a student and as such we are providing this questions and answers for free.
Recruitmentmat is forever free NECO & WAEC free question and answer platform. We can never and will never request money from you.
Keep refreshing this page for updates on WAEC Economics runz/expo 2021
WAEC Economics Questions And Answers 2021
WAEC 2021 Economics verified questions Loading.
1. The table below represents a traveller’s consumption of bottles of Coca-Cola. Study it carefully and answer the questions that follow:-
|No. of Bottles||Total Utility||Marginal Utility|
(a) Determine the missing figures D, E, F, G and H.
(b) Draw the demand curve for the traveller’s consumption of Coca-Coca.
(c) Explain the law of diminishing marginal utility as the basis for the slope of the traveller’s demand curve.
2. (a) Distinguish between economic activities and an economic system.
(b) Explain the following terms:
3. (a) With the aid of a diagram, explain a minimum price.
(b) State any five measures by which a minimum price for an agricultural produce can be made effective.
4. (a) Describe the output method of measuring the gross domestic product of a country.
(b) How is the net national product at factor cost obtained from gross domestic product?
(c) State two problems associated with the output method.
Today’s WAEC Economics OBJ Answers: (2021 Answers)
For Accuracy, Answers will be loaded in this page 2 hours to the main exam.
WAEC Economics Obj Answers
2021 WAEC Economics Questions Theory Answers (Expo)
2021 Answers Loading…99% Stay tune and keep refreshing
Today’s Economics 2 ( Essay) Answers (2021)
Today’s Economics Essay
Now Typing And Loading Answers Loading… Keep checking and reloading this page
Today’s Economics Answers
(1a) (2020 Answers)
(i) Increasing returns ( level 0 to 2)
(ii) Decreasing reruns ( level 3 to level 6)
(iii) Negative returns (level 6)
The law of diminishing returns states that F increasing quantities of one factor are combined with fixed supply of other’s in production,a point is reached from which each extra variable factor added yields loss and less addition to the total output
- The total product at any given level of labour input is equal to the sum of all the marginal product up to that level
– The MP is zero at the point where TP is maximum
Capital expenditure is primarily expenditure on the creation of fixed assets and on the acquisition of land, buildings and intangible assets. While Recurrent expenditure refers mainly to expenditure on
operations, wages and salaries, purchases of goods and
services, and current grants and subsidies.
Monetary policy refers to government activities that are directed toward influencing the quantity of money and credit in an economy. While Fiscal policy involves the use of government spending and revenue raising (taxation) to impact a number of aspects of the economy
(i)General Administrative Purposes The administrative machinery of a country may collapse if there is
no money to maintain it; tax therefore forms one of the sources of
WAEC Economics Answers 2021
Keep refreshing this page as the 2021 Economics essay / theory answers will load in few minute.
(i)It causes loss of valuable lands
(ii)It causes environmental pollution and pose health hazards
Consumer goods are products bought for consumption by the average consumer. Alternatively called final goods, consumer goods are the end result of production and manufacturing and are what a consumer will see stocked on the store shelf.
fixed capital is conventionally defined as the stock of tangible, durable fixed assets owned or used by resident enterprises for more than one year.
(iii)vehicles and equipment
Social capital it basically comprises the value of social relationships and networks that complement the economic capital for economic growth of an organization
(i)when someone opens a door for someone
(ii)returns a lost item to a stranger
(iii)gives someone directions or loans
Circulating capital is money being used for core operations of a company.
(ii)inventory in process
(i)The level of the real interest rate and the level of per capita GDP.
(ii)The proportion of labor remuneration in national income and Fiscal policy.
(iii)The distribution of income and high effect of taxation.
Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. … Money can be: market-determined, officially issued legal tender or fiat moneys, money substitutes and fiduciary media, and electronic cryptocurrencies.
value of money, then, is the quantity of goods in general that will be exchanged for one unit of money. The value of money is its purchasing power, i.e., the quantity of goods and services it can purchase.
demand for money is the desired holding of financial assets in the form of money. In othet words that is, cash or bank deposits rather than investments.
(i)The price of the good or service.
(ii)The income of buyers.
(iii)The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes and bought instead of a product.
Taxation contributes part of the money used in maintaining a country’s armed forces.
(iii)The Maintenance of Law and Order For internal peace and stability of a country to be guaranteed, laws
must be made and executed, which require money.
(iv)Redistribution of Incomes To achieve this, income tax is made to be progressive in nature.
(i)Commercial farming is mainly practised in developed countries whereas subsistence farming in less developed or developing countries.
(ii) Commercial farming is cultivated for profits whereas subsistence farming is for the consumption of the farmer and his/her family.
(iii) Commercial farms are very large while that of the subsistence farming are quite small.
(iv) Commercial farming is not dependent much on man power or animal power whereas subsistence farming is dependent.
(v) In commercial farming, there are proper irrigation facilities whereas subsistence farming is generally dependent upon the monsoon.
(i) It is usually grown in a piece of land where the land is quite small in the area.
(ii) This type of farming is usually done for the food crop where the farming is done just to satisfy the requirement of the farmers family and not for the purpose of selling it into the market.
(iii) The machineries which are used for the farming process usually primitive.
(iv) Primitive form of irrigation or little irrigation is done for this type of farming.
(i)It serves as source of revenue for the government
(ii)It creates job opportunities for people in the area.
More 2021 WAEC Economics Questions and Answers
Here the Economics part B will be uploaded for you. You do not need to worry. Disregard any 2021 Economics question you see in any other website. We real Economics answers for 2021 load in few minute
Now Loading, Keep Refreshing This page
Other WAEC 2021 Economics Questions Answers Related Subjects
See the below subjects
- WAEC Catering Craft Practice Practical 2021 Questions and Answers
- WAEC Chemistry Questions and Answers
- WAEC Biology Questions and Answers
- WAEC Physics Questions and Answers
- WAEC Mathematics Questions and Answers
- WAEC English Language Questions and Answers
- WAEC Data Processing Questions and Answers
- WAEC Geography Questions and Answers
- WAEC Government Questions and Answers
- WAEC Agric Science Questions and Answers
- WAEC Account Questions and Answers
- WAEC Igbo Language Questions and Answers
- WAEC Yoruba Language Questions and Answers
- WAEC Civic Education Questions and Answers
Play your Part As appreciation
We provide you all WAEC examination subject questions and answers for free. We believe in team work and we can not succeed alone. We can only succeed because of you. So while we help you, help us do a simple task by sharing this post as many time as possible in various platform. Invite your friends.
WAEC 2021 questions and answers will also be provided for free.
For update about WAEC Economics Questions and Answers 2021 expo or any other subject, use the comment box and we will respond to your query.
WAEC 2021 Economics expo, 2021 WAEC Economics answers, 2021 WAEC Economics runs, 2021 WAEC Economics expo questions, WAEC ssce 2021 Economics expo answers, WAEC 2021 Economics objective and essay Expo answers now available, June Economics theory Answers for 2021, Economics Questions WAEC Ssce Expo Answers Here, Free WAEC Economics correct Expo 2021 answers Runz WAEC Economics, WAEC Ssce 2021 Free Economics essay Questions and Answers Expo for WAEC Economics Paper 1 and Paper 2 Questions and Answers Expo Now Posted