waecE-LEARNING
Economics Paper 2, May/June 2013  
Questions: 1 2 3 4 5 6 7 8 9 10 11 12 Main
General Comments
Weakness/Remedies
Strength




QUESTION 5

(a) Explain four benefits of industrial development in an economy.
(b) Outline any four measures that will encourage industrial growth in your country.

OBSERVATIONS

 

This question was popular among the candidates, but most of the candidates were unable to score maximum marks because of their inability to expatiate their points. Candidates were expected to provide the following answer to score maximum marks in this question.

(a) (i) provision of employment opportunities;
(ii) diversification of the economy;
(iii) saving and earning of foreign exchange;
(iv) a high standard of living;
(v) increased government revenue;
(vi) it reduces the country’s balance of payments problems;
(vii) it aids expansion in infrastructure;
(viii) technological progress.
(ix) increase in Gross Domestic Product.
(x) controls inflation
(xi) encourages the agricultural sector to produce raw materials.

(b) (i) development of infrastructure;
(ii) establishment of financial institutions to aid private enterprises;
(iii) tax incentives to industries;
(iv) training of more man power relevant to the industrial sector;
(v) sound economic policies;
(vi) direct government participation;
(vii) stable political environment;
(viii) removal of administrative bottlenecks which will hinder industrial growth.

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