WASSCE Economics

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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8 Practical Ways to Increase Agricultural Output in Developing Countries

Reading Time: 4 minutes It is entirely possible to increase agricultural output in developing countries. Many developing countries, including those in West Africa and the rest of the continent record poor agricultural output every year. This is in spite of the fact that most of these countries boast of the best natural resources suitable for agricultural production in the …

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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 may come across 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 …

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