Topics you should understand well in Economics before writing WASSCE
Yes, I absolutely know that you are preparing for the WASSCE or you are probably wanting to get information about WASSCE (Economics ). Do not fear because in this article I am going to expose you on topics that Waec does not joke with.
These topics were extracted from Waec syllabus 2016-2020. It is very important to understand the fact that you do not read without direction. Reading without direction is like a ship travelling without compass and direction. Of a truth you know what would happen to such ship. It will be lost in a land of the forever. Similarly if you read without direction you may be lost in a land of the forever.
Here are the Topics you should know before you sit for the Wassce Economics Examination. They are
1. DEFINITION AND SCOPE OF ECONOMICS
♦ Scarcity and Choice ♦ Scale of Preference ♦ Opportunity Cost ♦ Economics activities-producuction ♦ Distribution and Consumption ♦ Classification of Economics activities-Primary, Secondary and Tertiary and their relative contribution to terms of output/income ♦ Employment ♦ Savings and Foreign Exchange
2. TYPES AND BASIC FEATURES OF ECONOMIC SYSTEM
- Types – Capitalism, Socialism, Mixed Economy e.t.c
- Basic features of each
- Economic problems of society and the approaches for solving them under each of the system.
3. BASIC TOOLS FOR ECONOMICS ANALYSIS
♦ Tables ♦ Graph ♦ Chart ♦ Some basic statistical measures and representations ♦ Arithmetic Mean, ♦ Median ♦ Mode and their simple applications
4. THEORY OF CONSUMER BEHAVIOUR
♦ Concept of Utility (total and marginal utility) ♦ Law of Diminishing Marginal Utility ♦ Relation between Marginal Utility and the Demand Curve
♦ Concept of Demand and Law of Demand ♦ Types of Demand (derived, composite, joint and competitive)