Syllabus content and objectives
Official WAEC Economics outline · Detailed Syllabus
Content
Utility theories, equilibrium price, maximum/minimum price controls, economies of scale, cost/revenue concepts, market types
Objective
Calculate total/marginal utility and consumer equilibrium; determine equilibrium price algebraically and analyze price controls, rationing, and black markets; examine division of labour, economies of scale, and law of variable proportions; differentiate fixed, variable, marginal, money, and opportunity costs, as well as total/marginal revenue; compare price and output determination under perfect competition, monopoly, and monopolistic competition.
Practice Past Questions on this Topic
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