Economics Past Questions and Answers

(a) What is international trade?
(b) Explain any four advantages of international trade.

(a) Outline any five reasons why small scale firms are common in West Africa.

(a) Explain with examples the terms competitive demand and complementary demand.
(b) With the aid of diagrams, analyse the effect of a decrease in the import duty on cars on the price and consumption of petrol.

(a)What is the demographic transition theory?
(b) Explain the three stages of the theory.

(a) Differentiate between shares and debentures.
(b) Identify any four problems encountered by firms in raising capital,