Economics 2025

WASSCE 2025 · Paper 1

• A change in taste and fashion.
• B physical disability.
• C economic depression.
• D individuals changing jobs.

WASSCE 2025 · Paper 1

• A human capital.
• B social capital.
• C money capital.
• D working capital.

WASSCE 2025 · Paper 1

• A increasing loans given to foreign countries.
• B importing more consumer goods.
• C encouraging more production for exports.
• D liberalising trade with other countries.

WASSCE 2025 · Paper 1

• A equilibrium price will fall and equilibrium quantity will increase.
• B both equilibrium price and quantity will fall.
• C equilibrium price will increase and equilibrium quantity will fall.
• D both equilibrium price and quantity will increase.

WASSCE 2025 · Paper 1

• A does not sell foreign exchange.
• B is usually government owned.
• C accepts demand deposits.
• D provides medium-term loan.

WASSCE 2025 · Paper 1

• A optimize the demands of consumers.
• B ensure the existence of consumer sovereignty.
• C allocate resources among competing ends.
• D enable producers maximize profits.

WASSCE 2025 · Paper 1

• A vote in annual general meetings.
• B receive dividends after ordinary shareholders are paid.
• C are the real owners of a business.
• D receive a fixed percentage of dividends.

WASSCE 2025 · Paper 1

• A perfectly elastic.
• B fairly elastic.
• C perfectly inelastic.
• D relatively inelastic.

WASSCE 2025 · Paper 1

• A demand for bread will remain the same.
• B quantity demanded of bread will increase.
• C demand curve for bread will shift to the left.
• D quantity demanded of bread will decrease.

WASSCE 2025 · Paper 1

• A development of slums in urban areas.
• B rapid population growth in developing countries.
• C abundance of highly skilled labour in cities.
• D concentration of industries in rural areas.

WASSCE 2025 · Paper 1

• A special tax on company profits.
• B tax on locally produced goods.
• C specific tax on imported goods.
• D tax based on the value of the good.

WASSCE 2025 · Paper 1

• A cost of purchasing engineering equipment.
• B huge amount spent on training engineering students.
• C lower expenses on importing technical equipment.
• D number of other professionals that will not be trained.

WASSCE 2025 · Paper 1

• A size of worker's family.
• B level of interest rate.
• C interval between pay days.
• D size of worker's income.

WASSCE 2025 · Paper 1

• A Consumers
• B Hawkers
• C Producers
• D Wholesalers

WASSCE 2025 · Paper 1

• A expenditure by tourists in a country.
• B purchase of a presidential jet.
• C payment for shipping services.
• D repayment of loans to the International Monetary Fund (IMF).

WASSCE 2025 · Paper 1

• A inputs used increase, output increases by a larger proportion.
• B output falls, profit increases by a larger proportion.
• C output increases, profit increases by a larger proportion.
• D inputs used increase, output increases by the same proportion.

WASSCE 2025 · Paper 1

• A are delicate and easily perishable.
• B are small in size and relatively durable.
• C are lighter in weight than the raw materials.
• D contain a high percentage of imported chemicals.

WASSCE 2025 · Paper 1

• A the percentage increase in quantity supplied equals that of price.
• B quantity supplied is the same at all prices.
• C the percentage increase in price is greater than that of quantity supplied.
• D a small increase in price results in a larger increase in quantity supplied.

WASSCE 2025 · Paper 1

• A rate of population growth.
• B value of transfer payments.
• C level of rural-urban migration.
• D rate of economic growth.

WASSCE 2025 · Paper 1

• A infinitely elastic demand.
• B elastic demand.
• C inelastic demand.
• D unit elastic demand.

WASSCE 2025 · Paper 1

• A Gross National Product at market prices + depreciation - indirect taxes - subsidies.
• B Gross National Product at market prices - depreciation + indirect taxes - subsidies.
• C Gross National Product at market prices - depreciation - indirect taxes + subsidies.
• D Gross National Product at market prices + depreciation + indirect taxes - subsidies.

WASSCE 2025 · Paper 1

• A be comprehensive and have funding available.
• B attract only foreign investors.
• C be ambitious and partial to a sector of the economy.
• D attract only domestic investors.

WASSCE 2025 · Paper 1

• A It always increases as quantity consumed increases.
• B It is positive.
• C Its curve has a positive slope.
• D It is negative.

WASSCE 2025 · Paper 1

• A shift to the left.
• B move inwards.
• C shift to the right.
• D remain unchanged.

WASSCE 2025 · Paper 1

• A provision of technical assistance to members.
• B financing balance of payments problems of countries.
• C promotion of industrial development.
• D financing projects aimed at socio-economic development.

WASSCE 2025 · Paper 1

• A USD 138.88 million.
• B USD 3,000.00 million.
• C USD 300.00 million.
• D USD 83.33 million.

WASSCE 2025 · Paper 1

• A a higher rate of immigration.
• B a reduction in fertility rate.
• C an increase in mortality rate.
• D a higher rate of emigration.

WASSCE 2025 · Paper 1

• A a total product curve.
• B a production possibility curve.
• C a marginal cost curve.
• D an average product curve.

WASSCE 2025 · Paper 1

• A signed by the minister of finance.
• B a measure of value.
• C backed by law.
• D printed by commercial banks.

WASSCE 2025 · Paper 1

• A an increase in income of buyers.
• B an anticipated decrease in its price.
• C an appreciation in its price.
• D a decrease in tax on rice production.

WASSCE 2025 · Paper 1

• A low dependency ratio.
• B high savings rate.
• C large proportion of young people.
• D large proportion of aged persons.

WASSCE 2025 · Paper 1

• A nationalization.
• B indigenization.
• C industrialization.
• D socialization.

WASSCE 2025 · Paper 1

• A goods are in excess supply.
• B individuals want to consume all goods.
• C resources are scarce in the society.
• D wants of consumers are limited.

WASSCE 2025 · Paper 1

• A USD 40.
• B USD 60.
• C USD 30.
• D USD 50.

WASSCE 2025 · Paper 1

• A medium-term plan.
• B rolling plan.
• C short-term plan.
• D perspective plan.

WASSCE 2025 · Paper 1

• A equal to infinity.
• B less than unity.
• C zero.
• D one.

WASSCE 2025 · Paper 1

• A agricultural technology is constant.
• B the services are rendered at a high cost.
• C they are more skilled than extension workers.
• D they prefer using existing methods of production.

WASSCE 2025 · Paper 1

• A supply curve to shift to the left.
• B supply curve to shift rightward.
• C quantity supplied to increase.
• D quantity supplied to fall.

WASSCE 2025 · Paper 1

• A bank rate.
• B level of consumption.
• C wage rate.
• D level of savings.

WASSCE 2025 · Paper 1

• A downward sloping.
• B positively sloped.
• C U-shaped.
• D horizontal.

WASSCE 2025 · Paper 1

• A government interest in the business.
• B the huge profit supermarkets and departmental stores make.
• C the ease of their establishment and management.
• D the large number of buyers.

WASSCE 2025 · Paper 1

• A Entrepreneurial ability and profit
• B Capital and rental income
• C Labour and interest
• D Land and wages

WASSCE 2025 · Paper 1

• A increases when output increases.
• B increases when output is zero.
• C is zero when output is maximum.
• D equals total cost when output is zero.

WASSCE 2025 · Paper 1

• A Rapid increase in emigration.
• B High taxes on raw materials.
• C Fall in raw material prices.
• D High population growth rate.

WASSCE 2025 · Paper 1

• A equal.
• B regressive.
• C proportional.
• D progressive.

WASSCE 2025 · Paper 1

• A the demand for apartments will fall.
• B there will be an increase in the supply of apartments.
• C rent for apartments may illegally increase above the equilibrium.
• D the supply of land for building apartments will increase.

WASSCE 2025 · Paper 1

• A there must be different elasticities of demand in different markets.
• B there must be free entry and exit of firms.
• C there must be many buyers and sellers.
• D products sold by firms in one market can be resold in other markets.

WASSCE 2025 · Paper 1

• A Free movement of factors of production
• B Common external tariffs on imports
• C Harmonisation of economic policies
• D Existence of a central authority

WASSCE 2025 · Paper 1

• A rent paid to landlords.
• B interest paid on a bank loan.
• C dividend earned by shareholders.
• D donation made to a school.

WASSCE 2025 · Paper 1

• A distance.
• B commercial policy.
• C population policy.
• D language.