waecE-LEARNING
Economics Paper 2, May/June 2011  
Questions: 1 2 3 4 5 6 7 8 9 10 11 12 Main
General Comments
Weakness/Remedies
Strength













Question 11
(a)  What is economic development ?
(b)  Outline any five features of a developing economy.

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Observation

The question was very popular with the candidates but the (a) part was not well tackled.  Candidates needed to state thus to score the maximum marks for this question:

(a)     Economic development is the process whereby there is a long period of sustained growth in the per capita real income of a country, accompanied by fundamental changes in the structure of the economy.

(b)     Features of a developing economy

                   (i)      high level of poverty;
                   (ii)      inadequate infrastructural facilities;
                   (iii)     rapid population growth;

  1. agriculture is the main occupation/low level of industrialization;
  2. high dependency on foreign nations;
  3. the use of crude technology;
  4. low per capita income;
  5. low level of savings and investment;
  6. inadequate medical care;
  7. high level of illiteracy.
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