Waec GCE Economics 2022 Questions and Answers

Waec GCE Economics 2022 Questions and Answers

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Waec GCE Economics 2022 Questions and Answers

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Waec gce economics expo 2022/2023

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WAEC GCE Economics Past Questions

Q1. Given that quantity demanded and supplied of a given commodity are
represented by the following demand and supply functions

Qd = 20 – 3p
Qs = 10 + 2p

(a) Construct the demand and supply schedule for price ranging from $1 to $5.

(b) Draw the demand and supply curve

(c) Determine the equilibrium Quantity demanded and supplied; Price

(d) At the price of $5, determine the excess supply

Q2. (a) Determine the price when the quantity demanded

(i) 2 units;
(ii) 3 units;
(iii) 4 units;
(iv) 5 units;
(v) 6 units;
(vii) 8 units;

(b) Represent the function with a curve using the data obtained in (a)

(c) State the law of demand

Q3. (a) What is Labour?

(b) Outline any four factors that can influence the efficiency of labour in the agricultural sector of your country.

Q4. (a) Explain the concept localization of industry.

(b)     Highlight any four problems of localization of industry in any economy

Q5. (a) What is limited partnership?

(b) In what four ways can partnership raise capital for expansion?

FAQ About WAEC GCE Economics Questions and Answers 2022

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