SHS Economics practice questions
334 questions across 19 topics of the new NaCCA curriculum, each with a written explanation.
Economics starts with why choices have costs and ends with how a whole economy is measured. Year 1 covers the basics — production, utility, price, demand and supply, markets, money and financial institutions, economic systems and the main macroeconomic variables. Year 2 works the same ideas harder: market equilibrium and market structure, production, cost and revenue, public finance, agriculture, industry and trade, the tools used in economic analysis, and demand, supply and utility revisited in more depth.
- Year 1
- 9 topics
- Year 2
- 10 topics
- Questions
- 334
Question mix across the subject: 95 recall, 119 applying skills and concepts, 96 strategic thinking and 24 extended thinking.
Year 1 topics(9)
- Economic Systems and Macroeconomic Variables20 questionsGhana's and other countries' approaches to allocating resources, and macroeconomic variables such as GDP, inflation, unemployment and the exchange rate.Try sample questions
- Introduction to Economics21 questionsThe meaning and definitions of Economics, microeconomics vs macroeconomics, positive and normative statements, tools of economic analysis, basic concepts (needs, wants, scarcity, choice, scale of preference, opportunity cost), and the three economic systems.Try sample questions
- Market10 questionsThe meaning of a market and the different forms and types of markets, with examples drawn from Ghana.Try sample questions
- Market and Demand20 questionsThe meaning of demand, the law of demand, the demand curve and schedule, and the factors that determine demand for goods and services.Try sample questions
- Money and Financial Institutions19 questionsThe concept and functions of money, the role of financial institutions, and an introduction to public finance.Try sample questions
- Price10 questionsThe meaning of price and the factors that affect pricing in an economy.Try sample questions
- Production21 questionsThe factors of production (land, labour, capital, entrepreneurship), their rewards, division of labour and specialisation, and the localisation of industry.Try sample questions
- Supply18 questionsThe meaning of supply, the law of supply, the supply curve and schedule, and the factors that determine the supply of goods and services.Try sample questions
- Utility13 questionsThe meaning of utility, total and marginal utility, the law of diminishing marginal utility, and how utility guides consumer decision-making.Try sample questions
Year 2 topics(10)
- Agriculture, Industries and Trade21 questionsGhana's agricultural sector, industrialisation, and domestic and international trade.Try sample questions
- Demand (Y2)14 questionsElasticity of demand and more advanced analysis of the factors and behaviours that shape demand for goods and services.Try sample questions
- Macroeconomic Variables22 questionsNational income accounting, and the types and causes of inflation and unemployment.Try sample questions
- Market Equilibrium12 questionsHow equilibrium price and quantity are determined, and government interference in markets through price floors and ceilings.Try sample questions
- Market Structure20 questionsThe characteristics of perfect competition, monopoly, oligopoly and monopolistic competition.Try sample questions
- Money, Financial Institutions and Public Finance25 questionsCentral banking, monetary policy, taxation, and the government budget.Try sample questions
- Production, Cost & Revenue24 questionsCost concepts (fixed, variable, total, average, marginal), revenue concepts, and returns to scale in production.Try sample questions
- Supply (Y2)11 questionsElasticity of supply and further analysis of the factors that shape the supply of goods and services.Try sample questions
- Tools in Economic Analysis16 questionsStatistical, mathematical and graphical tools used to analyse and present economic data at an advanced level.Try sample questions
- Utility (Y2)17 questionsAdvanced consumer behaviour theory, including consumer equilibrium and further applications of marginal utility analysis.Try sample questions
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