Economics Past Questions and Answers

(a) What is a capital market? [5 marks] <br/>(b) Describe any three instruments used in the capital market. [15 marks]

(a) What is (i) devaluation: (ii) depreciation of currency? [4 marks each] <br/>(b) Outline three measures that can be adopted to correct balance of payments deficit [12 marks]

(a) With the aid of a diagram, explain the effects of fixing a price (i) above the equilibrium price, <br/>(ii) below the equilibrium price [5 marks each]<br/>(b) (i) What is an abnormal demand? [4 marks] (ii) Give two reasons for its occurrence [6 marks] <br/>

Explain any five objectives of the Economic Community of West African States (ECOWAS). [20 marks]

The following are examples of economic goods except