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Key Facts: GTLE Economics Exam

100

Official Exam Questions

NTC Guidelines

2 hours

Exam Duration

NTC Guidelines

50%

Passing Mark

NTC Board Decision

GH₵ 450

Fresh Exam Fee

NTC Registration Portal

GH₵ 50

Mandatory Indexing Fee

NTC Indexing Portal

4 Domains

Core Content Categories

NTC syllabus

The GTLE Economics exam consists of 100 multiple-choice questions to be completed in 2 hours, requiring a pass mark of 50%. The registration fee is GH₵450 for all three GTLE papers. It covers microeconomics, macroeconomics, international trade, and the Ghanaian economy, testing both theoretical understanding and quantitative problem-solving.

Sample GTLE Economics Practice Questions

Try these sample questions to test your GTLE Economics exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which of the following describes the fundamental economic problem that faces all societies?

A.How to reduce unemployment to zero percent.

B.The scarcity of resources relative to unlimited human wants.

C.How to ensure that government revenue exceeds public expenditure.

D.The control of inflation to stabilize currency value.

Explanation: Scarcity is the central economic problem facing all societies. It arises because resources (land, labor, capital, enterprise) are limited, while human wants are insatiable. Consequently, choices must be made regarding what to produce, how to produce, and for whom to produce, which leads to the concept of opportunity cost.

2An economy is producing at a point inside its Production Possibility Curve (PPC). What does this point represent?

A.A state of full employment and allocative efficiency.

B.An unattainable level of production given current technology.

C.Underutilization or inefficient use of available resources.

D.An optimal combination of capital and consumer goods production.

Explanation: Any point inside the Production Possibility Curve (PPC) indicates that the economy is not utilizing its resources fully or is using them inefficiently (unemployment or underemployment). Points on the curve represent productively efficient levels of production, while points outside the curve are currently unattainable with the existing resource base and technology.

3A student has 4 hours of free time and can either study for an Economics test, which she values at GHS 50, watch a movie valued at GHS 30, or sleep, valued at GHS 20. What is the opportunity cost of choosing to study for the test?

A.GHS 50

B.GHS 30

C.GHS 20

D.GHS 0

Explanation: Opportunity cost is defined as the value of the next best alternative forgone when a choice is made. Here, the student has three options valued at GHS 50 (study), GHS 30 (movie), and GHS 20 (sleep). By choosing to study, she gives up both alternatives, but the opportunity cost is only the value of the next best alternative, which is watching the movie, valued at GHS 30.

4Which of the following is a characteristic of a command (socialist) economic system?

A.Resource allocation is determined primarily by the forces of demand and supply.

B.The state owns the means of production and planning authorities decide what to produce.

C.Consumer sovereignty dictates the production decisions of firms.

D.Motive of profit maximization drives economic activities.

Explanation: In a command or socialist economic system, the state owns and controls the resources and means of production. Central planning authorities determine what goods and services are produced, how they are produced, and how they are distributed, rather than relying on market forces or consumer sovereignty.

5What is the primary difference between cardinal utility theory and ordinal utility theory?

A.Cardinal theory assumes utility can be measured in exact numerical values, while ordinal theory assumes utility can only be ranked.

B.Cardinal theory applies only to luxury goods, whereas ordinal theory applies to normal goods.

C.Cardinal theory assumes diminishing marginal utility does not occur, while ordinal theory assumes it does.

D.Ordinal theory uses budget lines, while cardinal theory uses indifference curves.

Explanation: Cardinal utility theory (associated with Alfred Marshall) assumes that utility can be measured quantitatively in units called 'utils'. Ordinal utility theory (associated with Hicks and Allen) rejects this numerical measurement, arguing that consumers can only rank bundles of goods in order of preference (indifference curves).

6According to the Law of Diminishing Marginal Utility, as a consumer consumes more units of a specific commodity, which of the following occurs?

A.Total utility decreases at an increasing rate.

B.Marginal utility increases until it equals total utility.

C.Total utility increases but at a decreasing rate as marginal utility declines.

D.Marginal utility remains constant while total utility rises.

Explanation: The Law of Diminishing Marginal Utility states that as more units of a good are consumed, the additional satisfaction (marginal utility) derived from each successive unit decreases. Consequently, total utility continues to rise, but at a decreasing rate, until marginal utility becomes zero, where total utility is maximized.

7An indifference curve represents all combinations of two goods that provide a consumer with:

A.The same level of total utility.

B.Varying levels of total utility depending on market prices.

C.Maximum utility given the consumer's income level.

D.Equal expenditures of money.

Explanation: An indifference curve is a graphical representation of different combinations of two goods between which a consumer is indifferent, meaning all combinations along the same curve yield the exact same level of total utility or satisfaction.

8Which of the following will cause a rightward shift in the demand curve for a normal good?

A.An increase in the price of the good itself.

B.A decrease in the price of a complementary good.

C.A decrease in consumer income.

D.An increase in the price of a substitute good, accompanied by a decrease in consumer preference for the good.

Explanation: A complement is a good used together with another. If the price of a complement decreases, the demand for the complementary good increases, causing the demand curve for the primary good to shift to the right. An increase in the price of the good itself causes a movement along the demand curve, not a shift.

9If the price of a commodity increases from GHS 10 to GHS 12, and the quantity demanded decreases from 100 units to 90 units, what is the price elasticity of demand using the midpoint (arc) method?

A.-0.58

B.-0.45

C.-1.00

D.-2.20

Explanation: Using the Arc (Midpoint) Elasticity Formula: Ed = [(Q2 - Q1) / ((Q1 + Q2) / 2)] / [(P2 - P1) / ((P1 + P2) / 2)]. Here, P1 = 10, P2 = 12, Q1 = 100, Q2 = 90. Change in Q = 90 - 100 = -10. Average Q = (100 + 90)/2 = 95. Percentage change in Q = -10 / 95 = -0.1053 (-10.53%). Change in P = 12 - 10 = 2. Average P = (10 + 12)/2 = 11. Percentage change in P = 2 / 11 = 0.1818 (18.18%). Ed = -0.1053 / 0.1818 = -0.579, which rounds to -0.58.

10Suppose the income elasticity of demand for a good is -1.5. This implies that the good is:

A.A luxury good.

B.A normal good.

C.An inferior good.

D.A Giffen good.

Explanation: Income elasticity of demand (Yed) measures the responsiveness of quantity demanded to a change in income. A negative income elasticity (Yed < 0) indicates that as consumer income increases, the demand for the good decreases. This is the definition of an inferior good.

About the GTLE Economics Exam

The GTLE Economics Subject Specialism exam is designed to assess the subject-matter competence of prospective senior high school economics teachers in Ghana. It tests candidates on both core economic theory (microeconomics, macroeconomics, international economics, development economics) and practical application of these principles, with specific focus on the structural components, history, and current issues of the Ghanaian economy.

Assessment

100 multiple-choice questions assessing content knowledge and pedagogical content knowledge in Economics.

Time Limit

2 hours

Passing Score

50%

Exam Fee

GH₵ 450 (covers all three GTLE papers) (National Teaching Council (NTC))

GTLE Economics Exam Content Outline

35%

Microeconomics

Core concepts of scarcity, opportunity cost, Production Possibility Curves; demand, supply, and price equilibrium; price elasticity, income elasticity, cross elasticity; consumer utility (cardinal and ordinal); cost, revenue, and production; perfect competition, monopoly, monopolistic competition, and oligopoly.

35%

Macroeconomics

National income accounting (GDP, GNP, NNP, real vs nominal GDP, GDP deflator); aggregate demand and supply; simple, tax, and open economy multipliers; money, banking, and monetary policy (Central Bank of Ghana, reserve ratios, policy rate); fiscal policy and public finance (tax classification, national debt, budget deficits); inflation, unemployment, and stagflation.

15%

International Economics & Regional Integration

Classical trade theories (absolute and comparative advantage); terms of trade; balance of payments accounts (current, capital, financial accounts); exchange rate determination (fixed, floating, managed float); trade barriers (tariffs, quotas); regional integration including ECOWAS and the African Continental Free Trade Area (AfCFTA).

15%

Ghanaian Economy & Development Planning

Structure of the Ghanaian economy, sectoral contributions (agriculture, industry, services); economic development vs growth; development planning history in Ghana; structural challenges (debt, inflation, currency depreciation); IMF/World Bank assistance programs; and recent policies (e.g., Planting for Food and Jobs, 1D1F).

How to Pass the GTLE Economics Exam

What You Need to Know

Passing score: 50%
Assessment: 100 multiple-choice questions assessing content knowledge and pedagogical content knowledge in Economics.
Time limit: 2 hours
Exam fee: GH₵ 450 (covers all three GTLE papers)

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

GTLE Economics Study Tips from Top Performers

1Master quantitative formulas for price, income, and cross elasticity of demand and supply.

2Understand how to compute National Income metrics (GDP, GNP, NNP) using expenditure and income approaches.

3Study the tools of monetary policy used by the Bank of Ghana (e.g., reserve requirements, policy rate, open market operations).

4Be ready to work out consumer equilibrium mathematically using marginal utility and price ratios.

5Familiarize yourself with the sectoral distribution of Ghana's GDP and the primary challenges facing the agricultural and industrial sectors.

6Understand classical international trade models and be able to identify comparative advantage and calculate terms of trade from production tables.

Frequently Asked Questions

Who is eligible to write the GTLE Economics Subject Specialism exam?

Candidates must hold a Bachelor of Education (B.Ed) in Economics, or a BA/BSc in Economics from a recognized university combined with a Postgraduate Diploma in Education (PGDE).

What is the passing score for the GTLE Economics paper?

The official passing score set by the National Teaching Council (NTC) is 50%.

What topics are tested on the GTLE Economics exam?

The exam covers microeconomics (35%), macroeconomics (35%), international economics and regional integration (15%), and the structure and issues of the Ghanaian economy (15%).

How much does the registration cost?

For fresh candidates, the total registration fee is GH₵ 450 for all three GTLE papers. Re-sitters pay GH₵ 150 for a single paper, GH₵ 210 for two papers, and GH₵ 385 for three papers. Additionally, indexing costs GH₵ 50.

Are calculators allowed in the exam?

Yes, simple non-programmable scientific calculators are generally allowed to help with quantitative calculations like elasticity, multipliers, and national income metrics.

100+ Free GTLE Economics Practice Questions

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