2025 WASSCE Economics Questions for Students' Revision

This post contains 2025 WASSCE Economics Trial Questions for all seruious students eeking to obtain grade A1 in this elective subject.

Students in their final year at the secondary school level and preparing for the WAEC-administered WASSCE for need to revise with these 2025 WASSCE Economics Trial Questions. These questions will help the students to revise with some renewed level of confidence. If you are not able to solve these questions, it will still be a good exercise since the questions would have revealed that you are not ready for the task ahead.

Let us take a look at the 2025 WASSCE Economics Trial Questions

1: Explain why, in a free market economy, all consumers do not have an equal chance in determining what is produced.

2: a) What is meant by the following:

i) Economic growth

ii) Economic development

b) Describe any four ways by which economic growth of a country can be promoted

3: a) Describe the vicious circle of poverty

b) How does rapid population growth make it difficult to break the vicious circle of poverty?

4: a) Distinguish between normal profit and pure (abnormal) profit.

b) What role does pure profit play in attaining long-run equilibrium in perfect competition?

5: a) Define income elasticity of demand and show how it is measured

These questions

b) Explain the use of the concept of income elasticity of demand to the following

i) Trader

ii) government

iii) Worker

6: a) Distinguish between economies of scale and diseconomies of scale

b) Explain how economies of scale and diseconomies of scale determine the shape of the long-run average cost curve.

6: a) What is economic growth?

b) Explain any four sources of economic growth.

Let us take a careful look at the last set of questions in these 2025 WASSCE Economics Trial Questions.

7: a) The World Bank

The IBRD was established by the UN to provide loans for post-war reconstruction and to promote development of the less developed countries. The bank’s main function is to aid the financing of basic development projects by providing long-term loans from its own resources or guaranteeing private loans.

The International Monetary Fund

The IMF, on the other hand, was also set up the UN for the purpose of eliminating exchange restrictions, encouraging exchange rate stability, and providing for worldwide convertibility of currencies through short-term loans in order to promote multilateral trade.

If labour is a major input in the production of rice, what will be the effects on the following if the wage rate is doubled?

a) labour

b) supply of rice

c) price of rice

d) price of a close substitute for rice

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All final-year students are encouraged to carefully revise the topics examined in this trial test. This will help you cover areas you have issues with abd make you even more ready for the pending examination.