+234 8106996452

Notice
Chat us on WhatsApp now …. 2025 WAEC Subscription is on. 5K if you pay today or tomorrow... Subscribe now.. daily subscription should be done at least a day before exam... Full WhatsApp Group Subscribers get the answers much earlier before other people. Also note that Our 2024 JAMB Midnight Answers Subscription ends on Mon 9th Sep 2024. Note: we don't accept calls. Please, we beg you in the name of God, do all your daily subscriptions AT LEAST a day before the exam, we may not have time to attend to you for daily subscriptions on the exam day. This is examplaza.com, we source other websites.
ID: 59
To get 2024 JAMB Answers midnight before the exam, WhatsApp this

#### 31-40: DACDBCDACC

Always Refresh this page in every 5minutes starting from 1 hours to the exam

This is actually the 2018 Neco Gce. Economics answers Answers as questions sent to our subscribers on WHATSAPP, if you are looking for 2024 WAEC/NECO Answers midnight before the exam, try contacting us.

=====================================================================

(2a)

Given that Qs = 20+40

Qa = 60-2P

Equilibrium price

At Ep, Qd = Qs

= 20+4p = 60 - 2p

= 4p+2p = 60 - 20

6p = 40

P = 40/6

= N6.666

ED = N7

Equilibrium Qty

Substitute Ep in either equation

= Qd = 60 - 2D

But Q = 7

= 60 - 2 Ã—7

= 60 - 14

EQ = 46units

(2b)

(2c)

(i) Changes in taste of the consumer

(ii) Changes in price of the commodity

(iii) Changes in income of the consumer

(iv) Changes in supply

(v) Introduction of new goods

============================================

(4a)

Efficiency of labour is the working capacity of the labour is called his efficiency being given the same time limit and given the same type of work.

(4b)

(i) Poor Supply Of Electricity: For the average Nigerian youth that wants to venture into entrepreneurship, constant source of power supply is essential for most businesses.

(ii) Poor Standard Of Education: Gone are the days where Nigerian graduates could effectively compete with their counterparts from other parts of the world. Every year half-baked graduates are released into the labour market. Due to the poor standard of education, many end up unemployed.

(iii)Tribalism And Nepotism: Tribalism is a cankerworm that has eaten deep into the fabric of the Nigerian society. People are being employed based on where they come from or who they are, this is commonly known as having a â€˜connection or long legâ€™ in Nigeria. In the long run, the more qualified people are not employed.

(iv) Lack Of Employable Skills: One of the major causes of unemployment in Nigeria is the low standard of education, many graduates do not think it essential to empower themselves with skills that would further enhance their chances of getting a job.

============================================

(5a) Peasant Farming is a type of agricultural system which is concerned with the production of food for the farmer and his family

(b) Problems:-

-Poor transportation system

-Poor marketing system

Solutions:-

-Provision of storage facilities

============================================

(6a)

Representative money is an item such as a token or piece of paper that has no intrinsic value but can be exchanged on demand for a commodity that does have intrinsic value, such as gold, silver, copper

(6b)

(i) Medium of Exchange: The most important function of money is that it serves as a medium of exchange. In the barter economy a great difficulty was experienced in the exchange of goods as the exchange in the barter system required double coincidence of wants. Money has removed this difficulty.

(ii) Measure of Value: Money serves as a yardstick for measuring the value of goods and services. As the value of all goods and services is measured in a standard unit of money, their relative values can be easily compared.

(iii) Store of Value: Money being the most liquid of all assets is a convenient form in which to store wealth, that is, money can be held as an asset. Thus store of value function is also called asset function of money. It is, therefore, essential that the good chosen as money should be such as can be easily stored without deterioration or wastage

(iv) Standard of Deferred Payment: Deferred payments mean those payments which are to be made in the future. E.g If a loan is taken today, it would be paid back after a period of time.

=============================================

(8)

(i)Economic Freedom: The foremost advantage of this system is that everybody enjoysâ€™ economic freedom as one can spend oneâ€™s income according to oneâ€™s wishes. Producers have complete freedom to invest in any business or trade.

(ii)Optimum Use of Resources: All natural resources are used to their optimum level as production is undertaken with a sole purpose: of earning profit and no scope for wastages at all.

(iii)New Inventions: In this type of economy, there is ample scope of new invention. To get more profit every producer takes initiative to develop new techniques in production.

FEATURES OF CAPITALIST ECONOMIC SYSTEM:

(i)Price Mechanism: Capitalist economy is gained by price mechanism. Here prices are determined by the interaction of demand and supply without the interference of any kind by the government or any other external forces.

(ii)Profit Motive: The maximisation of profit is the main motive of the producer. Profit guides the production in this type of economy.

==============================================

(10a)

Mortgage bank is a bank that specializes in originating and/or servicing mortgage loan

(10b)

(i) Not making enough money: Despite all of the headlines about banking profitability, banks and financial institutions still are not making enough return on investment, or the return on equity, that shareholders require.

(ii) Consumer expectations: These days itâ€™s all about the customer experience, and many banks are feeling pressure because they are not delivering the level of service that consumers are demanding, especially in regards to technology.

(iii) Increasing competition from financial technology companies: Financial technology (FinTech) companies are usually start-up companies based on using software to provide financial services.

(iv) Regulatory pressure: Regulatory requirements continue to increase, and banks need to spend a large part of their discretionary budget on being compliant, and on building systems and processes to keep up with the escalating requirements.

How do I get 2024 Neco Gce. Economics answers BEFORE THE EXAM?
. You can get 2024/2024 Exam answers directly from examplaza.com, visit HERE NOW

Name: examplaza.com

Founded: 2010 (14 years)

Founder: Mr. Onuwa

Official Website: https://examplaza.com/

Official Contact: +2348108515604

## : Related Posts

2024 NABTEB Timetable: 2024 NABTEB Timetable

: neco timetable: 2024 NECO TIMETABLE

: This is 2024 WAEC MAY/JUNE TIMETABLE FOR SCHOOL Candidates

: Tim White: Unraveling the Truth Behind Tim White Solution: A Closer Look at the WAEC, NECO, and JAMB Answers Supply Platform

: neco timetable: 2024 NECO Timetable: Updated Timetable for 2024 NECO Exam

WAEC ENGLISH: This article provides tips and strategies for excelling in the WAEC English Language exam, including common questions and answers, comprehension, writing, grammar, and vocabulary skills. With this guide, students can prepare for the exam and improve their chances of success.

WAEC WHATSAPP GROUP: The Unlimited WhatsApp Members VIP Package is a stress-free solution for group coordinators to add unlimited WAEC and NECO exam members. Students receive accurate answers to all exam questions, making it a smarter way to study. Simply pay the stipulated amount, add the package administrators, and add as many candidates as needed. It's the ultimate solution for exam success.

: WAEC SUBSCRIPTION: This is WAEC & NECO SUBSCRIPTION PRICES. Note; this webpage is all about How to subscribe for WAEC or NECO Midnight Answers

: : Best JAMB Expo Sites: This is TOP 10 Best Jamb Expo Websites / 2024 jambexpo.com / Daily 1 Jamb Expo

: : : This is 2024 WAEC Timetable, the Updated & Latest Timetable for 2024 WAEC MAY/JUNE School Exam. You can download in different format ranging from pdf etc.