(a) Outline any three objectives of the African Development Bank.
(b) State any two achievements of the African Development Bank.
(a) What is economic development? (b) Outline any five features of a Development Bank.
(a) Describe the following types of co-operative societies;
(i) consumers’ co-operatives;
(ii) producers’ co-operatives;
(iii) thrift and credit co-operatives.
(b) Highlight any two problems faced by co-operative societies in West Africa
(a) Differentiate between shares and debentures.
(b) Identify any four problems encountered by firms in raising capital,
(a)What is the demographic transition theory?
(b) Explain the three stages of the theory.
(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) Outline any five reasons why small scale firms are common in West Africa.
(a) What is international trade?
(b) Explain any four advantages of international trade.
(a) Define mobility of labour.
(b) Describe any four factors influencing the supply of labour.
(a) What is centrally planned economy?
(b) Outline any four features of a capitalist economy.
The following are the loans granted by a commercial bank to different categories of individuals. Use the information to answer the questions that follow: Bankers $8,000, Farmers $8,000, Miners $7,000, Retailers $5,000, Tailors $4,000 Teachers $6,000, Drivers $4,000, Fishermen $3 000.
(a) Arrange the information in the form of a table grouping the individuals into: (i) Primary sector; (ii) Secondary sector; (iii) Tertiary sector.
(b) Express the loan to each sector of a ratio of the total loan granted
(c) Present the total loans granted to the sectors in a simple bar chart, (Use of graph sheet is essential)
The supply situation for rice in country X over a period as shown in the table below. Use the information in the table to answer the questions that follow.
| Period | Price ($) | Quantity supplied (bags) |
| December 2004 | 30 | 100 |
| January 2007 | 40 | 150 |
| April 2009 | 50 | 160 |
(a) Calculate the co-efficient of price elasticity of supply for rice between December 2004 and January 2007.
(b) Is the supply of rice elastic? Give a reason for your answer.
(c) State any three reasons which may cause an increase in the supply of rice,
A rise in government expenditure can lead to
- A. higher inflation
- B. higher unemployment
- C. lower profits for industries
- D. lower importation of raw materials by industries
When governments wants to discourage consumption, they tax goods whose demand is
- A. price inelastic
- B. abnormal in nature
- C. price elastic
- D. normal in nature
One profitable form of business undertaken by the commercial banks is
- A. the issuing of cheques
- B. the payment of standing order
- C. lending money to borrowers
- D. accepting cheques from customers
Deposit held in a commercial bank are part of
- A. money supply
- B. transfer payments
- C. ordinary shares
- D. treasury bills
Cost push inflation is caused by a
- A. rise in the cost of production
- B. decrease in the transportation cost
- C. rise in demand for goods
- D. decrease in the cost of production
The demand for money to take advantage of changes in bond prices is the
- A. unforeseen motive
- B. transaction motive
- C. speculative motive
- D. precautionary motive
A fall in national output will necessitate
- A. a rise in expenditure on imports
- B. a rise in the level of savings
- C. an increase in the consumption of expenditure
- D. a rise in the standard of living
When a country’s net income from abroad is added to its total output, the result is
- A. gross domestic product
- B. net national product
- C. gross national product
- D. net domestic product
A tax is regressive if the
- A. rate of tax is constant at all income levels
- B. rate of tax decrease as income increases
- C. rate of tax increases as income increases
- D. tax is direct rather than indirect