2019/2020 WASSCE ECONOMIC TRIAL

ECONOMIC TRIAL QUESTION

1.(a) Distinguish between economic activities and
an economic system.

(b) Explain the following terms:
(i) production;
(ii) distribution;
(iii) consumption.

2.(a) With the aid of a diagram, explain a
minimum price.

(b) State any five measures by which a minimum
price for an agricultural produce can be made
effective.
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3.(a) Describe the output method of measuring the
gross domestic product of a country.

(b) How is the net national product at factor cost
obtained from gross domestic product?

(c) State two problems associated with the output
method.
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4.(a) Explain the function of money as a
(i) measure of value;
(ii) store of value.

b) Show how inflation affects these two functions
of money.
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5.(a) What is a commercial bank?

(b) Describe any four ways by which the Central
Bank controls the amount of
credit given by the commercial banks.
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6.(a) Differentiate between human capital and
physical capital.

(b) State three ways of improving on the stock of
human capital in your country.
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*Wish you all the best my guy's*

*MR GABRIEL*

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