2020/2021 WAEC/NECO Answers: 2021 Waec Gce economics answers



+234 8108515604[email protected]
+234 810851560408108515604

Notice
Our 2021 WAEC GCE Second Series Midnight Answers Subscription ends on Sun 7th Nov 2021. 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 41

Obj loading💯💯💯💯

CIVIC EDUCATION
1-10: DDBACDAABA
11-20: ABBCCCBACD
21-30: CBAABBBBDB
31-40: CCCCCBCACC
41-50: DBCABAAACA

This is actually the 2018 Waec Gce economics answers Answers as questions sent to our subscribers on WHATSAPP, if you are looking for 2021 WAEC/NECO Answers midnight before the exam, try contacting us.

(1ai)
Fixed cost $
Processing machine 2000
Manager's salary 1500
Factory rent. 1200
Electricity Bill 800
Total 5,500

(1aii) 
Variable cost of the firm:


Wages to causallabour 2500
Fuel 600
Raw materials 1400
Total 4500

(1aiii) 
Average cost (AC) = Total cost/Unit produced 
TC = TFC+TVC
= $5500 + $4500
= $10,000
AC = $10,000/3000
AC = $3.33

(1b) 
Total profit for the period formular
Profit = Total Revenue - Total cost
Total Revenue = Price×quantuty
=$6.00×3000
=$18,000

Profit = $18,000 - $10,000
=$8,000

(1c)
Tax paid by the firm
Formula:
Tax paid = Tax rate × taxable profit 
= 10/100 × $8000/1
=$800

(1d) 
Fixed cost is defined as the cost incurred by a firm which does not change or vary with the level of activity. Examples are salary, rent, electricity. Whereas variable cost are the cost incurred by a firm which vary or change with the level of activity. Examples are fuel, cost of raw materials, wages of workers.



name

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


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

(6a)
Unemployment can be defined as an economic situation in which able body men and women who are willing and able to work can not secure any job in the country. 

(6b) 
(i) Technological employment: This is caused as a result of company changes its technical ways of production which result in laying off of worker who cannot cope with the new method of production. 
(ii) Cyclical Unemployment: This is caused as a result I down-swing in trade cycle ie a fall in a demand for a country's product. 

(6c) 
(i) Industrialization: Government should many industries that can employ many worker. 
(ii) Population control - Population should be controlled to obtain optimum level, so as to match the human population with available resources. 
(iii) Proper Development plan: This should be put in places to cater for people who are unemployed. 
(iv) Re-designing Educational system : The educational system should be redesigned to graduate people that are able to create employment.

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

(4a) 
Trade by barter can be defined as the exchange of goods for goods and services for services. 

(4b)
(i) Problem of double coincidence: This is a situation whereby a producer looks for another producer who has what he wants and want what he has. 
(ii) Problem of storage: This problem occur because most of goods produced are perishable. 

(4c) 
(i)Commodity Money: Is a commodity that is generally acceptable as a medium of exchange. Such a commodity has a money value as well as an intrinsic value of its own.

(ii) Token money: This is a form of money with a face value which is greater than the value of the metal content.

(iii) Bank deposits: The bank deposit is the process whereby an individual deposits his money in the bank and then uses cheques as a means of payment.



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

(3a)
Primary production involves the extractive industry where the occupation of people is directed to the process of extracting raw materials from the soil or area


(3bi)
Primary production: Mining and Fishing

(3bii)
Secondary production: Manufacturing industries and Construction industries

(3biii)
Tertiary production: Financial institutions, schools

(3c)
(i) Revenue: The primary industries like timber industry, cocoa industry, fishing industry, mining industry etc pay monies to the government in the form of taxes or levies. These monies are called revenues and they are used for developmental projects in the country.


(ii) Foreign exchange: Most of the the primary industries in such as timber industry, cocoa industry, mining industry etc., do not process or add value to their raw materials. Their raw materials are exported to other countries and this earns the country foreign exchange.


(iii) Employment: The primary industries together employ over 65% of the working population in a country. These various industries serve as employment and help people to earn income to improve their lives.
Majority of the people at the rural areas are farmers and fishermen.


(iv) Raw materials: Some of the industries process or add value to the raw materials from the primary industries.
For example, cocoa beans obtained from the Cocoa industries are processed by some companies such as Cocoa Processing Company into chocolates etc.





 Answers loading.... 




How do I get 2021 Waec Gce economics answers BEFORE THE EXAM?
. You can get 2020/2021 Exam answers directly from examplaza.com, visit HERE NOW
Tags:

FAQ

SITE: Related Posts

Answers 2020/2021: How do I get 2021 Waec Gce Health Science & Health Education answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: 2021 Waec Gce Health Science & Health Education answers

Answers 2020/2021: How do I get 2021 Waec Gce geography answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: 2021 Waec Gce geography answers

WAEC Financial Acc. Answers 2021: How do I get 2021 Waec accounting answers hours before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2021 WAEC Accounting Answers: 2021 Waec Financial accounting answers

Answers 2020/2021: How do I get 2021 Waec Gce Physics answers. hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: 2021 Waec Gce Physics answers.

Answers 2020/2021: How do I get 2021 Waec Gce geography answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: 2021 Waec Gce geography answers

Answers 2020/2021: How do I get WAEC GCE 2021. Chemistry 3 answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: WAEC GCE 2021. Chemistry 3 answers

Answers 2020/2021: How do I get Waec Gce 2021. Lit. In English Answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: Waec Gce 2021. Lit. In English Answers

Answers 2020/2021: How do I get Waec Gce 2021. Government answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: Waec Gce 2021. Government answers

Answers 2020/2021: How do I get 2021 Waec Gce. Agric practical answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: 2021 Waec Gce. Agric practical answers

Answers 2020/2021: How do I get 2021 Waec Gce. Civic Education answers hours/night before the exam? Examplaza sends answers night to the exam. Visit examplaza.com


2020/2021 WAEC/NECO Answers: 2021 Waec Gce. Civic Education answers


Uchechi said: I scored 239... view all reviews