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SS2 Economics Past Questions and Answers

FIRST TERM

Simple Linear Equations
Measures of Dispersion
Bar Charts
Pie Charts
Meaning of Demand And Supply
Laws of Demand And Supply
Factors Affecting Demand And Supply
Distinguish Between Factors That Cause Shift In Demand And Supply Curves
Types of Demand And Supply (With Curves)
Meaning of Production Possibility Curve (PPC)
Plotting The PPC From Possible Data
Concept of Total, Average And Marginal Productivity
Laws of Variable Proportion

SECOND TERM

Basic Cost Concepts: Total, Average, Marginal, Fixed And Variable Cost
Different Cost Curves
Short-Run And Long-Run Costs
Distinction Between Economist’s And Accountant’s View of Cost
Concept of Revenue – Total, Average And Marginal Revenue
Revenue Schedules And Curves
Basic Features of Economic System (Capitalism, Socialism, Mixed Economy etc)
Supply And Demand For Labour
Wage Determination
Trade Unions And Other Related Institutions
Concept of Unemployment
Types of Unemployment, Causes, Effects And Solutions
Concept of Self employment, Job Creation And Dignity of Labour
Concept of Utility – Average, Marginal And Total Utility
The Law of Diminishing Marginal Utility
Determination of Equilibrium Price And Quantity
Concept of Elasticity And Its Application
Simple Application of Price Theory
Concept And Types of Markets
Review of Cost And Revenue Curves
Price And Quantity Determination Under Perfect Competition
Price And Quantity Determination Under Monopoly
Price And Quantity Determination Under Duopoly
Agricultural Policies In Nigeria
Determinants of Supply And Demand For Money

THIRD TERM

Definition of Industrial Concept – Plant, Factory, Firm, Industry And Industrial Estate
Location And Localization of Industries In Nigeria
Advantage And Disadvantages of Localization of Industries
Factors That Influence Location And Localization of Industries
Problems of Agriculture In Nigeria
Meaning of Fiscal Policy In Public Finance
Objectives of Public Finance
Revenue Allocation (Including Resource Control)
Sources of Government Revenue
Meaning of Balanced Budget
Reasons for Balanced Budget
Meaning of Surplus And Deficit Budget
Ways of Financing Deficit Budget And Their Effects
Meaning of National Income Concepts And Their Uses
Ways of Measuring National Income And Their Limitations
Uses and Limitations of National Income Estimates
Trends And Structure of National Income
Money Market Institutions
Capital Market Institutions
Other Market Agencies
Functions of Capital Market Institutions
How The Stock Exchange Operates
Secondary And Primary Markets
Value of Money And The Price Level
Meaning And Types of Inflation
Causes & Effects of Inflation/Deflation
Control of Inflation/Deflation
Inflation In Nigeria

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