Ordinary level 2025 North West regional mock Economics guide
Ordinary level 2025 North West regional mock Economics guide
NORTH WEST REGIONAL MOCK
2025.ECONOMICS 0525 O/L MARK GUIDE
PAPER ONE (1)
| S/N | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| ANS | D | B | A | C | A | D | C | B | D | A |
| S/N | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| ANS | B | C | D | B | A | C | A | A | B | A |
| S/N | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| ANS | D | C | B | D | B | A | C | B | D | D |
| S/N | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 |
| ANS | A | B | C | A | B | D | A | C | B | D |
| S/N | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 |
| ANS | A | B | D | D | C | D | A | B | C | B |
PAPER TWO (2)
1.(a) (i) Demand for labour is the number of
labour employed at a given wage rate over a
period of time while supply of labour is number of
man hours a worker is willing and able to offer at
a particular wage rate and at a particular time in
order to produce goods and services (3mks with a
conjunction) (ii) Efficiency of labour is the abiity
of labour to achieve a greater output within a
short period without a fall in the quality of the
work done while division of labour is the a
situation where the production process is split or
divided into stages such that each stage is
undertaken by an individual or group of persons
or machines. (3 mks with a conjunction) (iii)
Mergers occurs when two or more firms voluntary
come together to form a new larger firm in order
to enjoy internal economies of scale while
economies of scale is the cost –saving advantages
firms will enjoy as a result of large scale
production or increase in the size of its output
which leads to falling average cost or as a result of
concentration of firms in a particular area (3
marks with a conjunction) (iv) Capital is wealth
set aside for the production of further wealth
while wealth is a stock of goods and services
existing at a particular place within a given period
of time.(2 marks with a conjunction) NB. Mark on
half if there is no conjunction.
(b)-i) Fixed costs are costs associated with fixed
factors of production and do not vary when
output changes (1 mk).FC= Interest
(4,000)+insurance(8,000)+ depreciation
allowances (5,000)=17,000 FCFA (2mks)(ii)
Variable costs are cost associated with variable
factors of production and changes with output (1
mk) VC= Salary of the driver(10,000)+Fuel
charges(25,000)=35,000 FCFA(2mks)
c) Provision of transport allowances, provision of
housing facilities, transfer of workers with
promotion, provision of social amenities etc
(1×3)=3mks
2. (a) i) Multilateral trade is trade between more
than 2 countries. 2mks (ii)Balance of payments
shows the relationship between a country’s total
receipts from countries and payments made to
them on goods, services and capital movement
within a period of one year(2 mks)(ii) Exchange
rate is the price of one currency in terms of
another currency orcurrencies(2mks)(iv)Currency
appreciation is a free increase in the external
value of currency due to the forces of demand and
supply (2mks)
(b) Quotas, tariffs, embargoes, exchange control,
complex custom procedures, subsidies etc 2 mks
per well explained point 2×3= 6 mks
