2016 Waec gce Economics Expo

ECONOMICS ESSAY QUESTIONS











ECONOMICS OBJECTIVE QUESTIONS













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ECONOMICS ESSAY AND OBJECTIVE ANSWERS


Econs Obj
1-10:ABBCABDCBA
11-20BABABDCBAB
21-30ACCBCBCDAC
31-40BBACDDCBDA
41-50ACADBACBBD

Goodluck












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5ai)Direct tax refers to the type of tax imposed directly on income of individuals or organisation by government or its agency

5aii)Indirect tax:This refers to taxes which are imposed or levied on goods and services

5b)-It generate income for the country
-it discourages excess importation of foreign goods
-To promote locally produced goods
-To discourage importation of harmful goods into the country

5c)-It is levy on consumer goods in form of VAT
-it is paid directly to the seller of good which remit it to the appropriate tax authority






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(No6a)
Money market is a financial market for lending and borrowing of short term loans while capital market is a financial market for the lending and borrowing of long-term loans



(No6b)
(i) Money market - central bank and Commercial Bank
(ii) Capital market: Building societies and the stock exchange.