Refresh this page in every 5 mins starting from 5 hours to the examThis is actually the Nabteb Gce 2018. Economics answers Answers as questions sent to our subscribers on WHATSAPP, if you are looking for 2020 WAEC/NECO Answers midnight before the exam, try contacting us.
(i) Saving account: 1980, 1981, 1982 1983
= 120 + 200 + 160 + 180
Total funds = â‚¦660
(ii) Current account: 100+100+120+110
Total funds = â‚¦430
(iii) Fixed account: 60+55+80+85
Total funds = â‚¦280
The account that has the highest fund in the four years is saving account which has the total fund of â‚¦660
Capital can be defined as the goods that are used for the production of other goods and services. Examples include, machines, tools, money, equipment etc. Capital is very important in production in economics. The reward for capital is interest.
(i) Essential for Production: Production without capital is hard for us even to imagine. Nature cannot furnish goods and materials to man unless he has the tools and machinery for mining, farming, foresting, Ashing, etc. If man had to work with his bare hands on barren soil, productivity would be very low indeed. Capital provides these machinery and tools for high productivity.
(ii) Importance in Economic Development: Broadening and deepening of capital are mainly responsible for economic development. Because of its strategic role in raising productivity, capital occupies a central position in the process of economic development. In fact, capital accumulation is the very core of economic development. It may be free enterprise economy like the American or a socialist economy like that of Soviet Russia or a planned and mixed economy of India, economic development cannot take place without capital formation.
(iii) Creating Employment Opportunities: Another important economic role of capital is the creation of employment opportunities in the country. Many workers have to be engaged to produce goods with the help of machines, factories, etc. Therefore, employment will increase as capital formation is stepped up in the economy.
(iv) Increases Productivity: With the growth of technology and specialization, capital has become still more important. More goods can be produced with the aid of capital. Capital adds greatly to the productivity of worker and hence of the economy as a whole.
A retailer is an individual or organization that buys goods in small quantities from the wholesaler or producer and sells in smaller quantities to the final consumers. The retailer it the second middleman in the distribution channel.
In a tabular form:
(i) He buys in small quantity from the whole sale.
(ii) He sells varieties of goods.
(iii) He does not brand and package of goods.
(iv) He grants credit to his customers only.
(v) He does not provide warehousing facilities.
(vi) He requires small capital to start with.
(i) He buys in large quantity from the producer or the manufacturer.
(ii) He does not sell varieties of goods.
(iii) He involves in branding and packing of goods.
(iv) He pays the producers for goods in advance to enhance production.
(v) He provides warehousing facilities for the safe keeping of goods till they are needed.
(vi) He requires large capital to start with
Scale of preference is a document or list that contains our wants arranged in their order of importance. Thus, what we prefer most comes first on the list while that is of least importance to us comes last.
(i) Scarcity: This is a situation where the amount of a particular commodity or service that is available cannot go round those that need it. Thus, the commodity is said to be limited in supply or scarce. It is only when things are scarce we value them.
(ii) Choice: Choice is the act of choosing one or more items from two or more items. Since man faces the problem of scarcity of resource with which to satisfy his wants, he has to choose which want to satisfy first and which to satisfy last.
(iii) Want: This is refers to things or commodities that are human desires. Examples are car, house, wife, husband etc. Human wants are unlimited and insatiable.
(iv) Resources: These refers to all natural, Human and manufactured valuable items or materials or services which are assumed to make rational decisions to achieve the greatest satisfaction or the maximum fulfillment of their goals.
(v) Opportunity Cost: This is alternative forgone. It is the real cost of making a choice ie choosing one item instead of the other. For example, if a pencil is purchased instead of a cloth, the opportunity cost is a cloth foregone
Money can be defined as anything that is generally accepted for the payment of goods and services and repayment of debts in a given country. Money facilitates the exchange of goods and services.
(i) Medium of exchange: It helps people to exchange or buy goods and services without any problem unlike barter system.
(ii) Unit of account: It is a standard monetary unit if measurement of value or cost of goods and services to assets. That is, money is divisible into smaller unit unlike barter system where goods are not divisible into smaller unit.
(iii) Store of value: Wealth can be stored in form of money over time. It must be able to reliably saved, stores and retrieved and be predictably usable as a medium of exchange unlike barter system.
(iv) Measure of value: Money acts as a standard measure and common denomination of trade. It is a basis of quoting and bargaining of price unlike barter system where there is no standard measurement for goods and services
... is externally organized and graded by the West Africa Examinations Council (WAEC), which clas- sifies candidates who obtain BECE Aggregate 6 to 12 as "distinction" or "good" students, Aggregate 13 to 24 achiev- ers as "average," and Aggregate 25 and above achievers as "weak" students (Asihene, 2009;Dorleku, 2013; ...
Please have it in mind that the junior WAEC registration for 2020/2021 actually started around Monday, October 8, 2019 , and will close on Friday, December 2019 .
WAEC internal can be easier because you're have been well prepared for the papers most recently (SS1 to 3). People usually write GCE while they'd abandoned books for months - if not years. This may make it more difficult to pass. There are other reasons WAEC internal could be more convenient as detailed in this post.
It's hard to compare precisely. Matric covers a broad range of subjects like GCSEs do in the UK, which we write at 16. Matric is written at 18 and probably to a slightly higher standard than GCSE level but definitely below the A-Level exams we do at 18, when normally we only do 3-4 subjects.
India still uses terms such as Matriculation Exams and Intermediate Exams taken from the days of British rule although in England itself these terms were replaced by 'O' or Ordinary Level Examinations (now called GCSEs) and 'A' or Advanced Level Examinations.
West African Examinations Council (WAEC) has announced that the General Certificate Examination (GCE) for private candidates will now be held twice a year starting in 2020.
Although the 16 years age limit requirement for university admission has no legal backing, it has become the gold standard for some universities in Nigeria, which had in their post-Unified Tertiary Matriculation Examination (UTME) advertorial stated that ?candidates, who will not be 16 years of age by October 31, 2021, ...
Probably not, you still have a degree. It's pretty bad though as you are competing with grads with 2:1 for good jobs. You can hustle to work on your CV and gain skills in the next few years, but opportunities would come as easily as someone with a 2:1 or 1st.
WAEC is the exams body in charge of senior secondary school exams called West African Examination Council. They conduct both WAEC May/June SSCE for school candidates and WAEC Feb./March or August/September for private candidates - also called WAEC GCE. ... Secondary school can be: Senior secondary school i.e SSS 1 to 3.
Nigerian students wishing to study abroad with WAEC, NECO or GCE can apply for admission at Brandon University. As a Nigerian or Internationa student seeking admission to study abroad at Brandon University with WAEC can use the link below to apply.
WAEC to stop amendment on certificates in 2017. The West African Examinations Council says it will stop amending the date of birth and other entries on the certificate of candidates from January 1, 2017.
Is WAEC 2020 Timetable Out? Yes, WAEC official timetable for 2020/2021 exam is out. WAEC EXAM will commence on 30th March, 2020 and will end on 12th June, 2020. At every stage of human endeavor, there is always a need for promotion which is often preceded by an examination.
Currently, WAEC scratch card is N700 (seven hundred naira). This price has been officially confirmed by the West African Examination Council (WAEC) on social media. According to WAEC, ?the cost of electronic pin/voucher (Now scratch card) for checking results is 700 Naira only?.
The WAEC examination is open to both private and school candidates. ... Some universities in the USA accepts WAEC results from West African students. So, you need to meet their minimum requirements before you're offered admission into an American university.
Ngozi Osarenren has said that the regional examination body WAEC (West African Examination Council) is better and more effective than its Nigerian counterpart, National Examination Council (NECO). ... ?What we should be talking about is the sanctity and credibility of our exams; not the duplicity of exam bodies.? Prof.
It means that you have scored 39% or less on your exam. It is a failure grade. E8 (40-44%) and D7 (45-49%) are passing grades. C6 (50-54%), C5 (55-59%) and C4 (60-64%) are credit grades. B3 (65-69%) is a Good grade.
B3 is B (Very Good), C4 is C (Good), C5 and C6 are (Credit), D7 and E8 are E (Pass) and F9 is F (Fail).
Obtain N300,000 Cash Grant for your Education Now. Reasons Why NECO Result is Accepted for Study in Canada. You sure read that correctly, NECO result is accepted for study in Canada if you did't know.
The answer is yes. NECO can be used to study abroad but not all schools abroad accept it. ... First of all, an applicant with a NECO result must sit for a proficiency English language exam such as GRE, IELTS, SAT, ACT, PSAT, TOEFL, GMAT, and the likes.
The West Africa Examination Council (WAEC) is the governing body conducting the WASSCE.
You are required to get at least a credit pass (50%) in your core subjects. Under the new WAEC grading system, A1 is Excellent, B2 Very Good, B3 Good, C4, C5 and C6 are interpreted as Credit, D7 and D8 are interpreted as Pass, while F9 is Fail.
A mature student can be as young as 21 but many are in their late 20s/early 30s or older, and may have left school without the necessary A Levels or equivalent.
It is no news that many schools in Nigeria (especially private secondary schools) charge up to 50,000 naira and even above for waec registration in their respective centres. The normal price for WAEC SSCE Enrollment fee fixed by waec is within N13,950.
According to the timetable, the West African Senior School Certificate Examination (WASSCE) for school candidates, 2020, will commence on 6th April, 2020 and will end on 5th June, 2020.