99% accurateThis is actually the WAEC 2019 - ECONOMICS ANSWERSAnswers as questions sent to our subscribers on WHATSAPP, if you are looking for 2020 WAEC/NECO Answers midnight before the exam, try contacting us.
Price = $20
Quatity = 50kg
The firm's profit = Total revenue - total cost = TR - TC
TR = price x quatinty sold
= $20 x 50
TC = $12 x 50
Profit = $(1000-600)
Because it is equal to demand curve of a firm and demand of perfectly elastic
AR = MR = MC = Demand & supply Curve
(i) Both are falling at initial stage
(ii) Both of them are rising after they intersect at price of $10 and quantity of 40kg
Balance of trade = Total visible
Export â€“ total visible = Import
Visible Exports = $m
Agriculture = 200
Minefal produce â€“
Capital goods â€“
Visible Import: - $m
Mineral produces â€“
Consumer goods 250
Capital goods 400
Therefore Balance of trade = $500 - $650
Balance of trade = $150
It is unfavourable Balance of Trade because total visible export is less than the total visible import
Invisible Trade Balance = Total Invisible Export â€“ total
Visible Import â€“
Invisible Export - $m
Insurance â€“ 25
Banking â€“ 30
Transportation â€“ 25
Invisible Import - $m
Insurance - 50
Banking â€“ 75
Transportation â€“ 85
Total = $210
Therefore invisible Trade balance = $80 - $ 210
i.e - $130
it is an unfavourable invisible trade balance total invisible import is more than total invisible export
Balance of current Balance = value of total Export â€“ Value of total Import
Total Export - $m
Agriculture â€“ 200
Mineral produce â€“ 300
Consumers goods â€“
Capital goods â€“
Insurance - 25
Banking â€“ 30
Transportation â€“ 25
Total = $580
Total Imports: - $m
Mineral produce â€“
Consumer goods 250
Capital goods - 400
Insurance - 50
Banking - 75
Transport - 85
Total = $860
Therefore 580 â€“ 860 = $280
It is a deficit current Account balance
SECTION B ANSWERS ONLY THREE (3) BIKO.
Distribution of goods is a process of making a product being produced or service available for a consumer or business user who needs it. This can be done directly by the producer or service perovider or using indirect channels with distributors or intermediaries.
Consumers' cooperative society is a society owned and operated by a grouo of ultimate consumers who pull teir resources together to purchase goods and services in large quantities and distribute them mainly to its members.
(i) To meet the need of consumers in quality goods and services at an affordable price
(ii) To produce goods, to provide households and production services including credit and issuance.
(iii) To provide services to its members
(iv) To raise the standard of living in a particular area or country
industry is the production of goods or related services within an economy. In other words The major source of revenue of a group or company is the indicator of its relevant industry.
division of labour is the separation of tasks in any system so that participants may specialize. In other words they motive for trade and the source of economic interdependence.
economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by amount of output produced), with cost per unit of output decreasing with increasing scale.
(i)Internal economic of scale are the unit cost advantages from expanding the scale of production in the long run.
(ii)These lower costs represent an improvement in long run productive efficiency and can give a business a significant competitive advantage in a market.
(iii)They also lead to lower prices and higher profits
(iv)If long run average total cost curve (LRAC) is declining, then internal economies of scale are being exploited
joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.
(ii)Restricted Trade of Shares
(i)private foreign finance (external borrowing)
(ii)local private finance from banks
(iii)direct government finance, in the form of equity, credit, or subsidy capital
Growing population is the increase in a population that occurs when the birth rate is higher than the death rate, or when immigration exceeds emigration, or when a combination of these factors is present. While declining population is a reduction in a human population caused by events such as long-term demographic trends, as in sub-replacement fertility, urban decay, white flight, or rural flight, or due to violence, disease, or other catastrophes.
Overpopulation refers to a population which exceeds its sustainable size within a particular environment or habitat while under population is a situation in which there are too few people to realize the economic potential of an area or support its population's standard of living.
(i)Pressure of Population on Land
(ii)Low Per Capita Income
(iii)Low Per Capita Availability of Essential Articles
(iv)Burden of Unproductive Consumers
Public debt refers to the debt of a country owes to its citizens or other countries or organization such as International Monetary Fund(IMF) and World Bank
(i)To finance budget deficit.
(ii) To provide employment opportunity
(iii) To reduce economic burden on tax payers
(i)A large domestic debt will limit influence the distribution of the income of the people.
(ii)it can reduce the availability of foreign exchange in the form of depleted foreign resistor.
(iii)A large external debit can make a country to be suspectable to the force
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.
Candidates are expected to pay a registration fee of Thirteen Thousand, Nine Hundred and Fifty Naira (N13,950) only. There's an extra bank charge of N500.
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.
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 possible to go to university without A-levels by studying an Access to Higher Education Diploma. They are accepted by many universities and can help you to meet the entry requirements for a variety of courses.
NECO seems less difficult compared to WAEC but not also easy to make A's.
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).
If you want to apply for 2020/2021 WAEC registration form, note that WAEC 2020 registration form is already out. The form was released in November 2019. Students who wises to apply for this form, are expected to do so as fast as possible.
Why Waec Gce is Far better than Neco Gce. ... 2: Grading: The marking scheme of Neco is totally different from that of Waec Gce and mostly students prefer writing Waec gce than that of Neco , Have you heard about C Parallel slogan, Student now call some board Exam Parallel Examination.
Passing NECO is not difficult, the problem is that many candidates use the wrong method to prepare for NECO and NECO GCE.
2020 WAEC GCE Closing Date Update: West African Examination Council (WAEC) Senior School Certificate Examination (WASSCE) for Private Candidates (GCE) First (1st) Series [January/February] Registration Form Closing Date / Deadline for 2020/2020 Session [Extension Notice]. 2. UPLOAD OF PINs - Sunday, January 12, 2020.
21 isn't too old to start anything. Seriously though, who is going to be able to tell you are two years older. It's a none issue. It's probably a better time to start uni than an 18 year old in my opinion.
Scientific studies have actually shown that cramming for an exam or test the night before doesn't actually work. You are actually more likely to do better on the test if you stop studying and get some sleep, than if you spend the whole night attempting to remember everything for the test.
The fact is your O'level result; be it WAEC , NECO or NABTEB is valid for a life time and has no expiration date. The Examination conducted by these examination bodies is known as ?achievement test? and therefore the certificates awarded are valid forever.
?WAEC*ExamNo*PIN*ExamYear to 32327?.
Many UK universities will accept a high school diploma a with a high enough GPA and if a GED is equivalent then that would probably be accepted. ... Some American universities have a campus in the UK, the most well known is Richmond, the American International University in London.
NECO registration form 2020 price is Eleven Thousand , Three Hundred And Fifty Naira Only (N11,350) Nine Thousand, Eight Hundred And Fifty Naira Only (N9,850) following the reduction of JAMB UTME form price and NECO form price in 2021.
So, if yours is an internal examination, kindly go to your school for collection. For private candidates, you need to go to the nearest WAEC office and make inquiry. Just remember, if it's been more than a year since your certificate was released, you will have to pay a fee to collect your certificate.
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.
We released SSCE results in 43 days ? NECO. The National Examinations Council has said it released the last Senior Secondary Certificate Examination results in 43 days.