NECO SSCE - Economics - 2005 | Green Bridge CBT

If two bags of rice were sold for N1,250 a mouth ago and two weeks later, the same amount was used to procure one bag. This simply means that the value of money is

constant

decreasing

fluctuating

increasing

proportional

Détails de la réponse

Read lesson note on Money And Inflation (WAEC)

Read lesson note on The Theory Of Consumer Behaviour (JAMB)

Money And Inflation

The Theory Of Consumer Behaviour

Voir la réponse

Question 10 Rapport

The following are the objectives of agricultural policies in Nigeria EXCEPT

provision of food

provision of agricultural raw materials to industrial sectors

increasing prices of agricultural Inputs

creation of rural employment

Détails de la réponse

Read lesson note on Agriculture (WAEC)

Read lesson note on Money And Inflation (JAMB)

Agriculture

Money And Inflation

Voir la réponse

Question 11 Rapport

The demand for factors of production is said to be

competitive

complementary

composite

derived

joint

Détails de la réponse

Read lesson note on Factors Of Production (WAEC)

Factors Of Production

Voir la réponse

Question 12 Rapport

When an increase in the price of a commodity lead to a fall In the demand for aNOTher, the demand for the two commodities are said to be

abnormal

competitive

composite

derived

joint

Détails de la réponse

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

Voir la réponse

Question 13 Rapport

The problem of “how to produce” in any economy is solved by

adopting the least cost method of production

combining capital and labour intensive methods of production

employing the services of a manager

using capital intensive method of production

using labour intensive method of production

Détails de la réponse

Read lesson note on Theory Of Production (WAEC)

Read lesson note on Market Structures (WAEC)

Theory Of Production

Market Structures

Voir la réponse

Question 14 Rapport

Which of the following is NOT a function of the IMF?

assisting member countries in printing and issuing their currency

Exchange rate stabilization

Promoting international monetary cooperation

Providing financial aid to members experiencing balance of payment difficulties

Serving as a clearing house f member countries

Détails de la réponse

Read lesson note on International Economic Organizations (WAEC)

International Economic Organizations

Voir la réponse

Question 15 Rapport

If the standard deviation of a set of numbers is 3.6, what is the variance?

12.49

12.69

12.9

12.96

12.98

Détails de la réponse

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Voir la réponse

Question 16 Rapport

Which of the following will NOT bring about an increase in Labour force?

Better medical services

Decrease in death rate

Emigration

Immigration

Increase in birth rate

Détails de la réponse

Read lesson note on Population And Labour Market (WAEC)

Read lesson note on Population (JAMB)

Population And Labour Market

Population

Voir la réponse

Question 17 Rapport

An industry operating in a perfect competitive market situation will maximum profit when

DD = SS

DD < SS

MC > AC

MC < AR

MC = MR

Détails de la réponse

Read lesson note on The Theory Of Supply (JAMB)

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

The Theory Of Supply

The Theory Of Demand

The Theory Of Price Determination

Economics As A Science

Voir la réponse

Question 18 Rapport

Which of the following is a disadvantage of localization of industries?

Aiding cooperation among firms

Creating structural unemployment

Encouraging subsidiary industries

Encouraging the growth of skilled labour

Reducing cost of production

Détails de la réponse

Read lesson note on Market Structure (JAMB)

Market Structure

Voir la réponse

Question 19 Rapport

Which of the following is NOT included in-measuring the National income through the income approach?

Allowance given to an aged mother by a civil servant

Income earned by a bricklayer

Profit earned by Nigerian bottling company plc

profit earned by NITEL plc

Salary earned by a doctor

Détails de la réponse

Read lesson note on National Income (WAEC)

National Income

Voir la réponse

Question 20 Rapport

Which of the following is the correct order in the chain of distribution?

Consumer —> Distributor → Retailer → Producer

Producer → Consumer → Retailer → Wholesaler

Producer → Wholesaler → Retailer → Consumer

Retailer → Consumer → Producer → Wholesaler

Wholesaler → Retailer → Producer → Consume

Détails de la réponse

Read lesson note on Distributive Trade (WAEC)

Distributive Trade

Voir la réponse

Question 21 Rapport

Persistent fail In the general price level Is known as

deflation

devaluation

general price Increase

inflation

price index

Détails de la réponse

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Agriculture In Nigeria (JAMB)

Economics As A Science

Agriculture In Nigeria

Voir la réponse

Question 22 Rapport

A business formation with a minimum of two and maximum of twenty persons is called

cooperative society

joint stock company

one man business

partnership

public corporation

Détails de la réponse

Read lesson note on Business Organizations (WAEC)

Read lesson note on Market Structure (JAMB)

Business Organizations

Market Structure

Voir la réponse

Question 23 Rapport

Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?

Coordinating and unifying petroleum policies of member countries

Ensuring efficient and regular supply of oil to the two market

Raising the revenue of member countries from oil through price increase

Refining of petroleum products in member countries

Stabilizing oil prices putting a production ceiling

Détails de la réponse

Read lesson note on Petroleum And The Nigerian Economy (JAMB)

Read lesson note on Money And Inflation (JAMB)

Petroleum And The Nigerian Economy

Money And Inflation

Voir la réponse

Question 24 Rapport

The satisfaction derived from Die consumption of a commodity is referred o as

consumption

demand

production

utility

utilization

Détails de la réponse

Read lesson note on Theory Of Consumer Behaviour (WAEC)

Theory Of Consumer Behaviour

Voir la réponse

Question 25 Rapport

An economy in which decision of what to produce is taken partly by private individuals and state is referred to as Economy.

capitalist

communist

mixed

socialist

welfarist

Détails de la réponse

Voir la réponse

Question 26 Rapport

Which of the following is NOT associated with minimum price legislation?

Black market

Excess demand

Excess supply

Unattainable equilibrium

Unemployment

Détails de la réponse

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Economic Systems (JAMB)

The Theory Of Price Determination

Economics As A Science

Economic Systems

Voir la réponse

Question 27 Rapport

The variance of a given set of numbers is defined as the

absolute value of the standard deviation

square of the standard deviation

square root of the standard deviation

square of the mean deviation

square root of the mean deviation

Détails de la réponse

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Read lesson note on The Theory Of Demand (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Demand

Voir la réponse

Question 28 Rapport

The following determine the level of consumption EXCEPT

expectation of price changes

level of income

savings

the rate of taxes paid

the political climate

Détails de la réponse

Read lesson note on Theory Of Consumer Behaviour (WAEC)

Read lesson note on Theory Of Production (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Theory Of Consumer Behaviour

Theory Of Production

The Theory Of Demand

Voir la réponse

Question 29 Rapport

The following are rewards for factors of production EXCEPT

interest

profit

rent

subsidy

wages

Détails de la réponse

Read lesson note on Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

Voir la réponse

Question 30 Rapport

Which of the following is NOT a function of marketing boards in Nigeria?

Fixing of prices for farm produce

Grading of farm produce

Importation of farm produce

Marketing of farm produce

Price stabilization

Détails de la réponse

Read lesson note on Industry And Industrialization (JAMB)

Industry And Industrialization

Voir la réponse

Question 31 Rapport

ECOWAS secretariat is located in

Abuja, Nigeria

Accra, Ghana

Conakry, Guinea

Freetown, Sierra Leone

Monrovia, Liberia V

Détails de la réponse

Read lesson note on International Economic Organizations (JAMB)

International Economic Organizations

Voir la réponse

Question 32 Rapport

Stock exchange market deals with

exchange of commodities

exchange of stock fish for stock

exchange of treasury bills

sales of foreign exchange

sales of second hand securities

Détails de la réponse

Read lesson note on Supply (WAEC)

Read lesson note on Economics As A Science (JAMB)

Supply

Economics As A Science

Voir la réponse

Question 33 Rapport

The following are problems of development planning in Nigeria EXCEPT

death of skilled manpower

inadequate capital

inadequate statistical data

poor implementation of economic planning

under-population

Détails de la réponse

Read lesson note on Public Finance (WAEC)

Read lesson note on Economic Development And Planning (WAEC)

Public Finance

Economic Development And Planning

Voir la réponse

Question 34 Rapport

Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds

as much to TR as to TC

less to TR as to TC

less to TC than to TR

more to TC than to TR

more to TR than to T

Détails de la réponse

Read lesson note on The Theory Of Production (JAMB)

The Theory Of Production

Voir la réponse

Question 35 Rapport

The trade-off between two commodities along the Production Possibility Curve (PPC) shows

opportunity cost principle

scarcity principle

transferable output

unattainable combination

under utilization of resources

Détails de la réponse

Read lesson note on International Trade (JAMB)

Read lesson note on The Theory Of Production (JAMB)

International Trade

The Theory Of Production

Voir la réponse

Question 36 Rapport

Range is NOT the best method of measuring dispersion because it considers only the

first number

first two numbers

frequently occurred number

middle number

two extreme number

Détails de la réponse

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Voir la réponse

Question 37 Rapport

The following can be used to improve a country’s balance of payment EXCEPT

anti-dumping policies

decreasing taxation on personal income

granting subsidies to export producers

increasing import duties

removing export duties

Détails de la réponse

Read lesson note on International Trade (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on Economic Integration (WAEC)

Read lesson note on Supply (WAEC)

Read lesson note on International Trade And Balance Of Payments (WAEC)

International Trade

Theory Of Price Determination

Economic Integration

Supply

International Trade And Balance Of Payments

Voir la réponse

Question 38 Rapport

Economic problem arises as a result of

choice

money cost

opportunity cost

scarcity

scale of preference

Détails de la réponse

Read lesson note on Economics As A Science (JAMB)

Economics As A Science

Voir la réponse

Question 39 Rapport

At the equilibrium price,

demand is greater than supply

demand equates supply

demand is less than supply

price is equal to demand only

price is equal to supply only

Détails de la réponse

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

The Theory Of Price Determination

Economics As A Science

Voir la réponse

Question 40 Rapport

Production is said to be complete when goods and services gets to the

consumers

distributors

retailers

warehouses

wholesalers

Détails de la réponse

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Business Organizations (JAMB)

The Theory Of Production

Business Organizations

Voir la réponse

Question 41 Rapport

The formular (N + 1)/2 is used to determine the

mean

median

mode

standard deviation

mean deviation

Détails de la réponse

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on Economics As A Science (JAMB)

The Theory Of Demand

Economics As A Science

Voir la réponse

Question 42 Rapport

The recent revolution of Cassava from ordinary food crop to export crop will lead to

decrease in price of cassava flour

decrease In production of cassava

decrease In production of local starch

increase In production of other crops

increase in the prices of cassava products

Détails de la réponse

Read lesson note on International Economic Organizations (JAMB)

Read lesson note on Money And Inflation (JAMB)

International Economic Organizations

Money And Inflation

Voir la réponse

Question 43 Rapport

If the population of a school is 600 and 60% are In JSS, how many students are in SSS?

204

224

240

244

248

Détails de la réponse

Read lesson note on Population (JAMB)

Population

Voir la réponse

Question 44 Rapport

Which of the following is NOT an objective of Economic planning?

Achieving economic self reliance

Achieving economic growth

Creating employment

Equitable allocation of resources

Widening the income gap

Détails de la réponse

Read lesson note on Public Finance (WAEC)

Public Finance

Voir la réponse

Question 45 Rapport

The use of tax and expenditure policy to regulate the economy is known as

deregulation

fiscal policy

monetary policy

physical measures

structural adjustment

Détails de la réponse

Read lesson note on Public Finance (JAMB)

Public Finance

Voir la réponse






Appuyez et maintenez pour déplacer
Cliquez ici pour fermer