NECO SSCE - Economics - 2007

Goods that are useful, scarce and can command price are called …………. goods.

The theory of absolute advantage was propounded by

The Industrial strategy of producing locally those goods that could have been imported is known as

If the price Index of export is 140% and import is 200%, what is

Which of the following is NOT an advantage of localization of industry?

The function muv/muz = py/pz represents

At the point where total utility begins to decline MU is

Which of the following goods are NOT examples of joint supply?

The solution to problem of how to produce in a capitalist economy is solved by

The first oil refinery in Nigeria was established at

The following are bye-products of crude oil EXCEPT

In a solo proprietorship, decisions are made by the

The following countries are members of ECOWAS EXCEPT

The difference between Gross National Income and Gross Domestic Product is known as

which of the following measures can be used to control inflation?

Economics is regarded as a social science because It

Which of the following is NOT a contribution of agriculture to industrial development?

The African Development Bank was set up in 1964 and has its headquarters in

Which of these is NOT a bottle neck In the distribution of goods In Nigeria?

Which of the following Is NOT a function of Merchant Bank

The following are types of monopolies EXCEPT

Which of the following is an advantage of free enterprise economy?

The following measures used to check deflation EXCEPT

The following are advantages of standard deviation EXCEPT that it

If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is

A comprehensive statement of Income and expenditure on international accounts for one financial year is called

Which of the following is a condition necessary

A deliberate government policy to exclude foreign participation in certain economic activity is known as

The following methods are used in calculation of National Income EXCEPT

Population density refers to

Which of the following is a disadvantage of sole proprietorship?

A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.

Standard deviation can be determined by the square root of the

A change in National Income brought about by a given change in investment Is

Agricultural production in Nigeria could be improved through

The equation MV PT is known as

Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14

Which of the following is NOT a feature of land?

Plantation farming can best be defined as cultivation of

The difference between bar charts and histograms is that the former

A tax system in which the rich pay a higher percentage of income as tax than the poor is known as

If total Income is N15m and total consumption Is N3m. then the average propensity to consume is

Branding and packaging of goods Is the function of

The creation of physical and concrete goods that can be seen and handled Is

Unemployment resulting from physical or mental deficiency is known as……………unemployment.

The following are the objectives of economic planning EXCEPT