NECO SSCE - Economics - 2009

The process of building up country’s capacity to process raw materials for the production of goods is known as

Data presented in tables are usually arranged in ………… and …………

The concept of choice in Economics refers to

The concentration of firms in one area is referred to as of ……………. industries.

Oil was first discovered in commercial quantity in ……….. State.

The demand curve of a perfect competitive market is infinitely elastic indicating that the firm can

These are the objectives of industrial strategies in Nigeria EXCEPT

Using Expenditure Approach to estimate National Income, Y is equal to

Average total cost can be expressed as

The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the

The following are qualities of money EXCEPT

The correct relationship between income (Y), consumption (C) and savings (S) is

A production possibility curve shows the

The following are the differences between domestic and international trade EXCEPT

The unit for measuring changes in prices and output is called ………………. index

A monopolist is a

When the value of a country’s export exceeds her imports, there will be a

The amount of satisfaction per unit of the commodity consumed is called

Price elasticity of supply measures the responsiveness of quantity supplied to

Which of the following is a determinant of elasticity of supply?

A firm is said to be a public joint-stock company when it

Which of the following hinder(s) effective distribution of goods in Nigeria?

Inflation is a …………….

When the demand for foreign exchange exceeds its supply, the value of the domestic currency

Economic growth can be defined as

The additional satisfaction derived from the consumption of one more unit of a good is called

The International Monetary Fund (IMF) was set up mainly to

Taxes levied on locally manufactured goods are called

The growth of a country’s population is affected by

Which of these factors causes a change in the quantity demanded of a commodity?

Which of the following is a form of business enterprise?

Labour force simply means the

The purchasing power of the Naira will fall when

In a given set of data, if the variance is 25, what is the standard deviation?

Time deposit is the same thing as

Which of the following is a function of the central bank?

The value of money is affected by

One of the roles of industrialization in economic development of Nigeria is

The demand for salt is …………

The first National development plan period was from

Production is best defined in economics as

The mean of the following scores

30, 32, 34, 36, 38, 40 and 42

What is the mean deviation?

Through membership of the Economic Community of West African States (ECOWAS) countries have achieved

Entrepreneur is associated more with

Disguised unemployment is the same thing as

A major feature of capitalism is

Which of the following is NOT an advantage of tabular presentation of data?

One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it