NECO SSCE - Economics - 2007 (Objective)

Question 1 Rapport

Population density refers to

total population

the total population divided by the total area of land Bonne réponse

the total area of land divided by the total population

the population ratio of male and female

optimum Population level

Détails de la réponse

Voir la réponse

Question 2 Rapport

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

diminishing returns

division of labour

Industrialization

production Bonne réponse

specialization

Détails de la réponse

Lisez la note de cours sur Industrialization (WAEC)

Lisez la note de cours sur Agriculture (WAEC)

Lisez la note de cours sur The Theory Of Production (JAMB)

Lisez la note de cours sur Business Organizations (JAMB)

Lisez la note de cours sur Theory Of Production (WAEC)

Industrialization

Agriculture

The Theory Of Production

Business Organizations

Theory Of Production

Voir la réponse

Question 3 Rapport

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

capital gains tax

progressive taxation Bonne réponse

proportional taxation

regressive taxation

sales tax

Détails de la réponse

Lisez la note de cours sur Economics As A Science (JAMB)

Economics As A Science

Voir la réponse

Question 4 Rapport

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

Beef and hides

fuel and kerosene

Palm oil and kernel

Tea and coffee Bonne réponse

Wool and Mutton

Détails de la réponse

Lisez la note de cours sur The Theory Of Supply (JAMB)

Lisez la note de cours sur Economic Systems (JAMB)

The Theory Of Supply

Economic Systems

Voir la réponse

Question 5 Rapport

Which of the following Is NOT a function of Merchant Bank

Helps public companies to issue new shares

Provision of medium and long-term loans

They accept bills of exchange

They guarantee the buying of shares Bonne réponse

They implement government monetary policies

Détails de la réponse

Lisez la note de cours sur Banking (JAMB)

Banking

Voir la réponse

Question 6 Rapport

The first oil refinery in Nigeria was established at

Alesa Eleme

Araromi

Kaduna

Oloibiri Bonne réponse

Warri

Détails de la réponse

Lisez la note de cours sur Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

Voir la réponse

Question 7 Rapport

In a solo proprietorship, decisions are made by the

board of directors

government

management

owner Bonne réponse

shareholders

Détails de la réponse

Lisez la note de cours sur The Theory Of Supply (JAMB)

Lisez la note de cours sur Business Organizations (WAEC)

Lisez la note de cours sur Theory Of Costs (JAMB)

Lisez la note de cours sur The Theory Of Consumer Behaviour (JAMB)

Lisez la note de cours sur Types And Basic Features Of Economic Systems (WAEC)

The Theory Of Supply

Business Organizations

Theory Of Costs

The Theory Of Consumer Behaviour

Types And Basic Features Of Economic Systems

Voir la réponse

Question 8 Rapport

The equation MV PT is known as

demand and supply equation

equilibrium equation

equation of exchange

money supply equation Bonne réponse

price index numbers

Détails de la réponse

Lisez la note de cours sur Methods And Tools Of Economic Analysis (JAMB)

Lisez la note de cours sur Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

Economics As A Science

Voir la réponse

Question 9 Rapport

Standard deviation can be determined by the square root of the

mean

mean deviation

mode

variance Bonne réponse

variance divided by the mean

Détails de la réponse

Lisez la note de cours sur Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Voir la réponse

Question 10 Rapport

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

decrease in bank rate

Decrease in taxation

deficit budget

Export drive Bonne réponse

Increase in government expenditure

Détails de la réponse

Lisez la note de cours sur Money And Inflation (WAEC)

Lisez la note de cours sur Public Finance (WAEC)

Lisez la note de cours sur Public Finance (JAMB)

Money And Inflation

Public Finance

Voir la réponse

Question 11 Rapport

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

Burkina Faso

Ivory Coast Bonne réponse

Liberia

Niger Republic

Senegal

Détails de la réponse

Lisez la note de cours sur International Economic Organizations (JAMB)

International Economic Organizations

Voir la réponse

Question 12 Rapport

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

direct

indirect

progressive

proportional Bonne réponse

regressive

Détails de la réponse

Lisez la note de cours sur Economics As A Science (JAMB)

Economics As A Science

Voir la réponse

Question 13 Rapport

The following are bye-products of crude oil EXCEPT

bitumen

kerosene

paraffin wax

perfume Bonne réponse

petrol

Détails de la réponse

Lisez la note de cours sur Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

Voir la réponse

Question 14 Rapport

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

Allocates resources better

Avoids extreme Inequality of income

Full employment

It is very competent In providing vital social services Bonne réponse

No need of employing a host of officials to allocate resources

Détails de la réponse

Lisez la note de cours sur Economic Systems (JAMB)

Economic Systems

Voir la réponse

Question 15 Rapport

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

combining aid labour means of production

the producers involves Bonne réponse

using capital Intensive method of production

using labour intensive method of production

using the method of production with the least cost

Détails de la réponse

Lisez la note de cours sur Factors Of Production And Their Theories (JAMB)

Lisez la note de cours sur Economic Systems (JAMB)

Factors Of Production And Their Theories

Economic Systems

Voir la réponse

Question 16 Rapport

Agricultural production in Nigeria could be improved through

control of plant diseases Bonne réponse

Land Fragmentation

Payment of excise duty

the introduction of low yielding crops

the use of traditional implements

Détails de la réponse

Lisez la note de cours sur Money And Inflation (JAMB)

Lisez la note de cours sur Agriculture In Nigeria (JAMB)

Money And Inflation

Agriculture In Nigeria

Voir la réponse

Question 17 Rapport

The following are advantages of standard deviation EXCEPT that it

has greater practical utility In sampling Bonne réponse

is a good measure of dispersion since all the values are used in its calculation

is important and useful in the analysis of T- Test

is not a sound mathematical index

is the most popular measure of dispersion in distribution

Détails de la réponse

Lisez la note de cours sur Methods And Tools Of Economic Analysis (JAMB)

Lisez la note de cours sur The Theory Of Demand (JAMB)

Lisez la note de cours sur The Theory Of Price Determination (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Demand

The Theory Of Price Determination

Voir la réponse

Question 18 Rapport

The following methods are used in calculation of National Income EXCEPT

depreciation Bonne réponse

Expenditure

Income

Output

value added

Détails de la réponse

Lisez la note de cours sur Industrialization (WAEC)

Lisez la note de cours sur Methods And Tools Of Economic Analysis (JAMB)

Lisez la note de cours sur Factors Of Production And Their Theories (JAMB)

Lisez la note de cours sur National Income (WAEC)

Industrialization

Methods And Tools Of Economic Analysis

Factors Of Production And Their Theories

National Income

Voir la réponse

Question 19 Rapport

The following measures used to check deflation EXCEPT

deficit financing

improving distribution system

increasing wages and salaries

raising the bank rate Bonne réponse

reducing taxation

Détails de la réponse

Lisez la note de cours sur Public Finance (JAMB)

Lisez la note de cours sur Economic Systems (JAMB)

Public Finance

Economic Systems

Voir la réponse

Question 20 Rapport

The following countries are members of ECOWAS EXCEPT

Angola Bonne réponse

Ghana

Ivory coast

Liberia

Niger Republic

Détails de la réponse

Lisez la note de cours sur Economic Integration (WAEC)

Lisez la note de cours sur Financial Institutions (WAEC)

Economic Integration

Financial Institutions

Voir la réponse

Question 21 Rapport

Which of the following is NOT a feature of land?

Free gift of nature

Fixed in supply

Geographically immobile

Returns on land is wages Bonne réponse

Subject to law of diminishing returns

Détails de la réponse

Lisez la note de cours sur Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

Voir la réponse

Question 22 Rapport

Which of the following is a condition necessary

Few sellers and buyers Bonne réponse

Free entry and exist

Homogeneous goods

Lack of preferential treatment

Many callers and buyers

Détails de la réponse

Lisez la note de cours sur Theory Of Consumer Behaviour (WAEC)

Lisez la note de cours sur Market Structure (JAMB)

Theory Of Consumer Behaviour

Market Structure

Voir la réponse

Question 23 Rapport

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

APC

APS

MPC

MPS

The multiplier Bonne réponse

Détails de la réponse

Lisez la note de cours sur National Income (WAEC)

National Income

Voir la réponse

Question 24 Rapport

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

balance of payments Bonne réponse

balance of trade

budget

Index of trade

terms of trade

Détails de la réponse

Lisez la note de cours sur International Trade And Balance Of Payments (WAEC)

International Trade And Balance Of Payments

Voir la réponse

Question 25 Rapport

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

8 Bonne réponse

Détails de la réponse

Lisez la note de cours sur Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Voir la réponse

Question 26 Rapport

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

provision of food for the industrial sector

Provision of funds for industrial development

Provision of raw materials

Supply of labour to the industrial sector

supply of machinery to the industrial sector Bonne réponse

Détails de la réponse

Lisez la note de cours sur Agriculture (WAEC)

Agriculture

Voir la réponse

Question 27 Rapport

The following are types of monopolies EXCEPT

cartels

holding companies

syndicates

thrifts Bonne réponse

trusts

Détails de la réponse

Lisez la note de cours sur Market Structure (JAMB)

Market Structure

Voir la réponse

Question 28 Rapport

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

capital

consumer

economic Bonne réponse

free

scarce

Détails de la réponse

Lisez la note de cours sur Economics As A Science (JAMB)

Lisez la note de cours sur Economic Systems (JAMB)

Economics As A Science

Economic Systems

Voir la réponse

Question 29 Rapport

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

cyclical

disguised

Frictional

residual Bonne réponse

Voluntary

Détails de la réponse

Lisez la note de cours sur Agriculture (WAEC)

Lisez la note de cours sur Population And Labour Market (WAEC)

Agriculture

Population And Labour Market

Voir la réponse

Question 30 Rapport

At the point where total utility begins to decline MU is

constant

decreasing

increasing

negative Bonne réponse

zero

Détails de la réponse

Lisez la note de cours sur The Theory Of Consumer Behaviour (JAMB)

Lisez la note de cours sur Economics As A Science (JAMB)

The Theory Of Consumer Behaviour

Economics As A Science

Voir la réponse

Question 31 Rapport

Economics is regarded as a social science because It

helps people to be acceptable In the society

Is associated with social dubs

is used by sociologist

studies human behavior Bonne réponse

uses controlled experiment

Détails de la réponse

Lisez la note de cours sur Definition And Scope Of Economics (WAEC)

Lisez la note de cours sur Economics As A Science (JAMB)

Definition And Scope Of Economics

Economics As A Science

Voir la réponse

Question 32 Rapport

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

70 Bonne réponse

100

140

280

Détails de la réponse

Lisez la note de cours sur Economics As A Science (JAMB)

Lisez la note de cours sur Economic Systems (JAMB)

Economics As A Science

Economic Systems

Voir la réponse

Question 33 Rapport

The function muv/muz = py/pz represents

consumer’s average utility level

diminishing marginal utility

increasing marginal utility

marginal theory of price

utility maximization Bonne réponse

Détails de la réponse

Lisez la note de cours sur Theory Of Price Determination (WAEC)

Lisez la note de cours sur The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

Voir la réponse

Question 34 Rapport

The theory of absolute advantage was propounded by

Adam Smith Bonne réponse

David Ricardo

Irving Fisher

JB Kynes

Thomas Malthus

Détails de la réponse

Lisez la note de cours sur Economics As A Science (JAMB)

Lisez la note de cours sur Economic Systems (JAMB)

Economics As A Science

Economic Systems

Voir la réponse

Question 35 Rapport

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

Availability of social amenities

Development of subsidiary industries

Highly organized markets

supply of skilled labour

traffic De-congestion Bonne réponse

Détails de la réponse

Lisez la note de cours sur Business Organizations (WAEC)

Lisez la note de cours sur Distributive Trade (WAEC)

Lisez la note de cours sur Industry And Industrialization (JAMB)

Business Organizations

Distributive Trade

Industry And Industrialization

Voir la réponse

Question 36 Rapport

Which of the following is a disadvantage of sole proprietorship?

Does not enjoy limited liability Bonne réponse

Decisions are easily made and implemented

Easy to set up

Enjoys secrecy

Maintains dose relationship with workers and customers

Détails de la réponse

Lisez la note de cours sur Agriculture (WAEC)

Lisez la note de cours sur Business Organizations (JAMB)

Lisez la note de cours sur Definition And Scope Of Economics (WAEC)

Agriculture

Business Organizations

Definition And Scope Of Economics

Voir la réponse

Question 37 Rapport

The following are the objectives of economic planning EXCEPT

achieving balanced growth

diversification of the economy

creation of more employment opportunities

equitable allocation of resources

rapid population growth Bonne réponse

Détails de la réponse

Lisez la note de cours sur Economic Development And Planning (WAEC)

Economic Development And Planning

Voir la réponse

Question 38 Rapport

Branding and packaging of goods Is the function of

brokers

consumers

manufactures Bonne réponse

retailers

wholesalers

Détails de la réponse

Lisez la note de cours sur Business Organizations (JAMB)

Lisez la note de cours sur Distributive Trade (WAEC)

Lisez la note de cours sur Types And Basic Features Of Economic Systems (WAEC)

Business Organizations

Distributive Trade

Types And Basic Features Of Economic Systems

Voir la réponse

Question 39 Rapport

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

commercialization

indigenization Bonne réponse

liberalization

localization

privatization

Détails de la réponse

Lisez la note de cours sur Economic Systems (JAMB)

Economic Systems

Voir la réponse

Question 40 Rapport

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

balance growth

export promotion

import substitution Bonne réponse

Industrialization

urbanization

Détails de la réponse

Lisez la note de cours sur Industry And Industrialization (JAMB)

Industry And Industrialization

Voir la réponse

Question 41 Rapport

The difference between bar charts and histograms is that the former

are difference between bars adjoined to each other while the latter are separate bars divided Into sections

are line graphs while the latter are rectangular bars

are separate bars divided Into sections while the latter are line graphs

has bars adjoined to each other while the latter has separate bars

has bars separate from each other while the latter has bars adjoined to each other Bonne réponse

Détails de la réponse

Lisez la note de cours sur Basic Tools Of Economic Analysis (WAEC)

Basic Tools Of Economic Analysis

Voir la réponse

Question 42 Rapport

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

Adequate transportation network Bonne réponse

Inadequate credit facilities

Inadequate storage facilities

poor processing and packaging

Unnecessary hoarding

Détails de la réponse

Lisez la note de cours sur Distributive Trade (WAEC)

Distributive Trade

Voir la réponse

Question 43 Rapport

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

0.2 Bonne réponse

0.6

0.7

Détails de la réponse

Lisez la note de cours sur Economics As A Science (JAMB)

Lisez la note de cours sur Money And Inflation (JAMB)

Economics As A Science

Money And Inflation

Voir la réponse

Question 44 Rapport

Plantation farming can best be defined as cultivation of

crops using hoes and cutlasses for farming

food crops for personal consumption

food for use by the family

large scale farms of cash crops Bonne réponse

livestock for commercial purposes

Détails de la réponse

Lisez la note de cours sur Money And Inflation (JAMB)

Money And Inflation

Voir la réponse

Question 45 Rapport

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

capital consumption

debt repayments

Investment abroad

net income from abroad Bonne réponse

net saving

Détails de la réponse

Lisez la note de cours sur National Income (WAEC)

National Income

Voir la réponse

Question 46 Rapport

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

balanced

deficit

restricted

surplus Bonne réponse

Détails de la réponse

Lisez la note de cours sur International Trade And Balance Of Payments (WAEC)

Lisez la note de cours sur Economic Development And Planning (WAEC)

International Trade And Balance Of Payments

Economic Development And Planning

Voir la réponse






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