1.1 Background of study
Economics is one of the elective subjects studied at senior secondary school level as prescribed by the National Policy of Education. It is a subject that contributes to making citizens functional in the society. The Nigerian Educational Research and Development Centre, (NERDC 2008) opined that the curriculum is based on the principle of equipping senior secondary school graduates with basic knowledge and skills to appreciate the nature of economic problems in any society and adequately prepare them for the changes in the Nigeria economy.
Economics in the words of Yusuf (2013) was introduced into the secondary school curriculum in Nigeria in 1966, much later than most other secondary school subjects. Ever since Economics was introduced as a school subject, the number of schools that offer the subject as well as the number of candidates that register the subject in the West African Examination Council (WAEC) SSCE exams have witnessed a phenomenal increase owing to its importance to human existence. In that regard Economics has been regarded as an important subject in the secondary schools in the sense that it helps humans to be very functional in the society and creates rationality among human beings.
Yusuf (2013) opined that Economics is concerned with human behaviour such as how people earn their living and make choice between alternatives, to satisfy their wants. It also focuses on the study of firms and the government whose activities are geared towards the production of goods and services for the satisfaction of human wants.