WAEC 2022 MAY/JUNE ECONOMICS ANSWERS - Verified 2022 WAEC EXAM English Questions and Answers

Wednesday 19th August 2020
Economics 2(Essay) – 9:30am – 11:30am
Economics 1(objective) – 11:30 am – 12:30pm

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

No. 2 uploaded for those that need it. Remember you're asked to answer the total of 4 questions.

 

Economics Obj

1 -   10: CBABCBCBCB
11 - 20: BAAABAACAC
21 - 30: DCCAACDADA
31 - 40: BABDCCBADB
41 - 50: DDCDABBDCA



WAEC English Questions and Answers 2022. WAEC Eng Expo for Theory & Objective (OBJ) PDF: verified & correct expo Solved Solutions, WAEC 2022 MAY/JUNE ECONOMICS ANSWERS. 2022 WAEC EXAM English Questions and Answers

Questions Students ask about 2022 WAEC EXAM English Questions and Answers

  • How to get 2022 Mathematics WAEC QUESTION AND ANSWERS before the exam? To get WAEC 2022 MAY/JUNE ECONOMICS ANSWERS midnight before the exam, all you need to do is to visit examplaza.com with the pin sent to you by the admin and login. With the pin, you can have a full access to WAEC 2022 MAY/JUNE ECONOMICS ANSWERS

  • When do I get Verified 2022 Mathematics WAEC QUESTION AND ANSWERS? You will get WAEC 2022 MAY/JUNE ECONOMICS ANSWERS a night to the exam because is an important subject.

  • After using 2022 Mathematics WAEC ANSWERS, How many am I assured of in ? You will score between 7As - 9As in if you write verbatim WAEC 2022 MAY/JUNE ECONOMICS ANSWERS.

  • How verified is your 2022 Mathematics WAEC ANSWERS? Our WAEC 2022 MAY/JUNE ECONOMICS ANSWERS is 100% verified and legit and it is worthy to be trusted because it from examplaza.com which is the most trusted website for exam runs in Nigeria.

  • Where do I get 2022 Mathematics WAEC QUESTION AND ANSWERS? You can get WAEC 2022 MAY/JUNE ECONOMICS ANSWERS only from examplaza.com

  • Is the answers on this page actually the main WAEC 2022 MAY/JUNE ECONOMICS ANSWERS? No, This is WAEC 2020 MAY/JUNE ECONOMICS ANSWERS, to get WAEC 2022 MAY/JUNE ECONOMICS ANSWERS, you need to subscribe with us by texting or WhatsApping us.

  • How do I subscribe for 2022 Mathematics WAEC Questions & ANSWERS? To subscribe for 2022 Mathematics WAEC Questions & ANSWERS, Message 08108515604 starting that you need 2022 Mathematics WAEC Questions & ANSWERS a day to the exam.
examplaza.com answers

(1a)
X=80=-9.8|80-70=Y|z=5 50/2
X=80-9.8 | Y | z=25
X = 70.2 |


(1b)
(i) Increasing returns ( level 0 to level 2)
(ii) Decreasing returns ( level 3 to level 6)
(iii) negative returns ( level 6)

(1c)
The law of diminishing returns states that if increasing quantities of one factor are combined with a fixed supply of others in productions, a point is reached from which each extra variable factor added yields loss and less addition to the total output.


(1di)
DRAW THE GRAPH

(1dii)
(i) The total product at any given level of labour input is equal to the sum of all the marginal product up to that
(ii) The MP is zero of the point where TP is maximum

 

WAEC 2022 MAY/JUNE ECONOMICS ANSWERS 2022 WAEC EXAM English  Questions and Answers WAEC English Questions and Answers 2022. WAEC Eng Expo for Theory & Objective (OBJ) PDF: verified & correct expo Solved Solutions, WAEC 2022 MAY/JUNE ECONOMICS ANSWERS. 2022 WAEC EXAM English  Questions and Answers

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

 

(2)

WAEC 2022 MAY/JUNE ECONOMICS ANSWERS 2022 WAEC EXAM English  Questions and Answers WAEC English Questions and Answers 2022. WAEC Eng Expo for Theory & Objective (OBJ) PDF: verified & correct expo Solved Solutions, WAEC 2022 MAY/JUNE ECONOMICS ANSWERS. 2022 WAEC EXAM English  Questions and Answers

==========================
(3a)
Consumer goods are products bought for consumption by the average consumer. Alternatively called final goods, consumer goods are the end result of production and manufacturing and are what a consumer will see stocked on the store shelf.

(3bi)
fixed capital is conventionally defined as the stock of tangible, durable fixed assets owned or used by resident enterprises for more than one year.

-Example-
(i)plant
(ii)machinery
(iii)vehicles and equipment

(3bii)
Social capital basically comprises the value of social relationships and networks that complement the economic capital for the economic growth of an organization

-Examples-
(i)when someone opens a door for someone
(ii)returns a lost item to a stranger
(iii)gives someone directions or loans

(3biii)
Circulating capital is money being used for core operations of a company.

-Example-
(i)operating expenses
(ii)inventory in process
(iii)Raw material


(3c)
(i)The level of the real interest rate and the level of per capita GDP.
(ii)The proportion of labour remuneration in national income and Fiscal policy.
(iii)The distribution of income and high effect of taxation.

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

 

(4ai)
Capital expenditure is primarily expenditure on the creation of fixed assets and on the acquisition of land, buildings and intangible assets. While Recurrent expenditure refers mainly to expenditure on
operations, wages and salaries, purchases of goods and
services, and current grants and subsidies.

(4aii)
Monetary policy refers to government activities that are directed toward influencing the quantity of money and credit in an economy. While Fiscal policy involves the use of government spending and revenue-raising (taxation) to impact a number of aspects of the economy

(4b)
(i)General Administrative Purposes The administrative machinery of a country may collapse if there is
no money to maintain it; tax, therefore, forms one of the sources of
such money.

(ii)Defence Purposes
Taxation contributes part of the money used in maintaining a country’s armed forces.

(iii)The Maintenance of Law and Order For internal peace and stability of a country to be guaranteed, laws
must be made and executed, which require money.

(iv)Redistribution of Incomes To achieve this, income tax is made to be progressive in nature.

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

(6a)
Money is any commodity that is generally accepted in payment for goods and services or settlement of the debt. It is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy and at the same time acts as a measure and store of value.

(6bi)
Value of money: This simply means the number of goods and services that money can purchase at a particular time. Value of money refers to what money can buy. It depends on the purchasing power of money. There is an inverse relationship between the price and value of money. the higher the level of price, the lower the value of money and vice versa.

(6bii)
Demand for money: This is the desired holding of financial assets in the form of money. In other words, it is cash or bank deposits rather than investments. It is sometimes referred to as liquidity preference.

(6c)
(i) The price of the good or service.
(ii) The income of buyers.
(iii) Interest rates.
(iv) The tastes or preferences of consumers

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

 


(8a)
(i)Commercial farming is mainly practised in developed countries whereas subsistence farming in less developed or developing countries.

(ii) Commercial farming is cultivated for-profits whereas subsistence farming is for the consumption of the farmer and his/her family.

(iii) Commercial farms are very large while that of the subsistence farming are quite small.

(iv) Commercial farming is not dependent much on manpower or animal power whereas subsistence farming is dependent.

(v) In commercial farming, there are proper irrigation facilities whereas subsistence farming is generally dependent upon the monsoon.

(8b)
(i) It is usually grown in a piece of land where the land is quite small in the area.
(ii) This type of farming is usually done for the food crop where the farming is done just to satisfy the requirement of the farmers family and not for the purpose of selling it into the market.

(iii) The machinery which is used for the farming process usually primitive.

(iv) A primitive form of irrigation or little irrigation is done for this type of farming.

(8c)
-Positive effects-
(i)It serves as a source of revenue for the government
(ii)It creates job opportunities for people in the area.

-Negative effects-
(i)It causes loss of valuable lands
(ii)It causes environmental pollution and poses health hazards

 

 

 

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

refresh this page steadily


WAEC English Questions and Answers 2022. WAEC Eng Expo for Theory & Objective (OBJ) PDF: verified & correct expo Solved Solutions, WAEC 2022 MAY/JUNE ECONOMICS ANSWERS. 2022 WAEC EXAM English Questions and Answers

WAEC GCE Second Series Subscription is on. Subscribe now


Beware of Scammers.... Please always use 08108515604 for all your transactions to avoid being scammed.
NOTE: Any answer that does not have badge can be chnaged, removed or updated anytime. The badge means that the answers have been verified 100% (if used exactly, you're to get nothing but A1) while without the badge means that the answer is still under verification. If you're not in a hurry, please wait for answer to be verified before you copy.
Click on the drop down links to view answer under them.
Good Luck... Invite family and friends to examplaza.com... We are the best and we post, others copy from us.











WAEC GCE Second Series Subscription is on. Subscribe now. Also note that Our 2022 WAEC GCE Second Series Midnight Answers Subscription ends on Tue 6th Dec 2022. 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.