Economics revision notes

WAEC and JAMB · SS2 and SS3 · 5 topics

Every topic below is written for the WAEC and JAMB syllabus: what you need to know, the key terms, a worked example with the steps shown, and the mistake that costs candidates the mark.

• Basic economic problems Everything in economics follows from one fact: wants are unlimited and resources are not. Examiners want you…
• Demand, supply and price The engine of the whole syllabus. Be precise about the difference between a movement along a curve and a…
• Production and market structures Links the factors of production to how firms actually behave. The four market structures are a standard…
• Money, banking and inflation Highly topical in Nigeria, which makes it a favourite for essay questions. Know the functions and the control…
• Public finance and national income Where government policy meets measurement. Expect a definition, a calculation and an application in the same…