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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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