WAEC: ECONOMICS Economics 2017 WAEC (WASSCE) Past Questions 2017 Economics WAEC (WASSCE) Theory Past Questions (Paper 2)

Lesson 10, Topic 2

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2017 Economics WAEC (WASSCE) Theory Past Questions (Paper 2)

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2017 Economics WAEC (WASSCE) Theory Past Questions (Paper 2)

SECTION A (1 – 2) – Consists of two data-response questions and candidates will be required to answer one of them.

SECTION B (3 – 8) – Consists of six questions and candidates will be required to answer any three of them.

Duration – 2 hours

SECTION A (1 – 2)

Answer any one (1)

Question 1:

A dealer in deep freezers increased the price of his product from $450 to $500 and sales dropped from 800 units to 600 units a week.

Use the information above to answer the questions that follow.

(a) (i) Calculate the price elasticity of demand
(ii) What type of elasticity is it? Explain your answer

(b) Calculate the (i) total revenue of the company before and after price increase; (ii) change in total revenue.

(c)

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WAEC: ECONOMICS

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2017 Economics WAEC (WASSCE) Theory Past Questions (Paper 2)

Content:

SECTION A (1 – 2)

Question 1:

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WAEC: ECONOMICS

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2017 Economics WAEC (WASSCE) Theory Past Questions (Paper 2)

Content:

SECTION A (1 – 2)

Question 1:

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