WAEC Economics 2011 Theory — Question 4
Question 4 of 25 from the West African Examinations Council (WAEC) Economics 2011 Theory paper, with the correct answer and a full explanation.
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2(a) The following are the loans granted by a commercial bank to different categories of individuals: Bankers $8,000, Farmers $8,000, Retailers $5,000, Miners $7,000, Teachers $6,000, Drivers $4,000, Fishermen $3,000. Arrange the information in the form of a table grouping the individuals into: (i) Primary sector (ii) Secondary sector (iii) Tertiary sector.
Model answer
A table is the arrangement of data in rows and columns. Primary sector: Farmer $8,000; Miners $7,000; Fishermen $3,000 = Total $18,000 Secondary sector: Tailors $4,000 = Total $4,000 Tertiary sector: Retailers $5,000; Drivers $4,000; Bankers $8,000 = Total $23,000
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