Economics Past Questions and Answers

Distinguish between:<br/>(a) Economic resources and non-economic resources.<br/>(b) Want and Demand.<br/>(c) Money Cost and Real Cost. <br/>

Explain the advantages and disadvantages of monopoly. <br/>

Why is the small scale trader important in West African countries?

How can West African countries promote indigenous industries?

(a) What is a customs union?<br/>(b) State three advantages and two disadvantages of a customs union.