senior high school economics

Reasons for the Slope of the Demand Curve

Reading Time: 2 minutes This brief tutorial on Senior High School Economics or WASSCE Economics serves as a quick reminder about the various factors that determine the slope of the demand curve. I will give you the key points you need to answer both objective and essay questions in Economics. It is all about the reasons for the slope …

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300+ Definitions of Important Economics Terms (PDF)

Reading Time: 63 minutes Are you looking for a single spot where you can find the definitions of all the important economics terms? Then you’ve finally arrived at the right place. This mega post is all about the definitions of the basic economics terms for students. You can even download a PDF copy of these definitions of key economics …

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Top 4 Entrepreneurship Questions and Answers

Reading Time: 3 minutes The WASSCE/SHS Economics tutorial you’re about to encounter shall give you a concise outline of key entrepreneurship questions and answers. You will discover the most important reasons why there is a shortage of really successful entrepreneurs in West Africa. Secondly, I will give you points for an answer to this popular entrepreneurship question in Economics: …

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7 Reasons for the Shortage of Capital in West Africa

Reading Time: 3 minutes This Senior High School Economics lesson is to assist you to identify the reasons why there is shortage of capital in West Africa and other developing countries. WASSCE  Economics Questions and Answers (2020) This Post is Part of a mega WASSCE Economics Questions and Answers Series Let’s have the points you need to answer WASSCE …

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7 Reasons Why Natural Resources in West Africa are Under- Utilized

Reading Time: 2 minutes There is no shortage of natural resources in West Africa. But these natural resources in West Africa are seriously under-exploited. I am about to give you the points you can expand to answer WASSCE Economics questions. This particular tutorial is all about the reasons why there is under-utilization of natural resources in West Africa. WASSCE …

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Aims and Objectives of ECOWAS, NEPAD, AGOA, IDA, EEC – WASSCE

Reading Time: 3 minutes Below are summarized points for the aims and objectives of ECOWAS, NEPAD, AGOA, IDA, EEC. You definitely need to know and remember these points about the aims and objectives of major world Economic Organizations for the WASSCE Economics paper. We will begin with the aims and objectives of The International Development Association (I.D.A) Aims and …

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9 Major Causes of an Increase in Demand for a Commodity

Reading Time: < 1 minute So what are the major causes of an increase in demand for a commodity? This brief tutorial will give you the points you need to answer this question in your school test, assignment/homework or final examination. Causes of an Increase in Demand- WASSCE/SHS Economics Revision Notes Note that an “increase in demand” falls under the …

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Top 15 International Economic Organizations

Reading Time: 5 minutes There are many international economic organizations. In this post, I’m going to give you important facts you must know about 15 of these international economic organizations. 1. International Monetary Fund (IMF) The International Monetary Fund (IMF) is a financial institution set up to manage the international monetary system. The IMF also aims to create favourable …

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Definition of Economics Explained

Reading Time: 2 minutes ECONOMICS   DEFINITION: Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.   ENDS/WANTS   MEANING: Ends are wants or desires that individual consumers, firms or businesses and government are constantly using their scarce resources to satisfy. They are in the form of goods …

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Distinguish Between Foreign Aid and Foreign Investment

Reading Time: < 1 minute Foreign Aid Foreign Aid is the assistance (in the form of resources or commodities such as foreign currency, equipment, technical skills, food, relief items etc.) mostly given by rich countries (Britain, the USA, Germany, Japan etc.) or international organizations and financial institutions (the World Bank, the I.M.F., Peace Corps, specialized agencies of the UN etc.) …

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Top 5 Types of Economic Cooperation Explained in Simple Terms

Reading Time: 2 minutes Do you want to know the basic features that make one form of international economic cooperation different from the others? Maybe you are not familiar with the names of  the various types of international Economic cooperation. We are talking here about forms of international economic cooperation or integration like Free Trade Area, Customs Union, A …

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76 Probable WASSCE Economics Questions

Reading Time: 4 minutes There is a good chance you will see one or two of these WASSCE Economics questions on problems African economies keep facing in your next WASSCE or other  examination. 76 Probable problem-related questions in WASSCE Economics 1. What factors account for the low productivity of agriculture in your country?2. What factors have hindered industrial development …

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Simple Explanation of Key Cost Concepts in Economics

Reading Time: 6 minutes   Do you wish to get a simple understanding of such terms as implicit cost, explicit cost, marginal cost, accounting cost, money cost, opportunity cost, overhead cost, social cost, total variable cost and many others as they are used in matters relating to economics and finance? If your answer is yes then I urge you …

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