NECO SSCE - Economics - 2003

Which of the following is NOT a component of agriculture?

Minimum price control is aimed at

Which of the following is NOT a factor determining supply?

The per capita income is calculated as

The theory of income determination is traced to

The first commercial oil well in Nigeria was discovered in

Data presented in a circular chart is known as

ECOWAS Visa lasts for

According to the theory of comparative advantages, countries are to specialize based on their

Which of the following is a major export crop in Nigeria?

The central point of the Malthusian theory is that

A shift of the demand curve leftward from its original position indicate

Which of the following is NOT an internal dis-economy of scales?

The professional that view cost in term of alternatives sacrificed is the

Efficiency of labour implies

Which of the following is a characteristic of private enterprises?

Equilibrium prices is

In economics, electricity, water supply, communication networks, road, etc are known as

Which of the following is NOT a sources of national income statistics?

Economic growth is the

In calculating mean one should

Abdul is faced with a choice between buying a new NOTE book and a pen with N10. Since the N10 can NOT give him both items he decide to buy NOTE book. The money cost to him is

Price legislation means

Which of the following is NOT a cause of inflation?

Central bank of Nigerian started operation

In the equation MV = PT; V stand for

An economic system where both the public and individuals own and control means of production is known as ……… system

The most generally accepted definition of economics is

Which of these is NOT a basic economic problem of society?

To finance a deficit balance of payment, a country may decide to

In a free market economy, wages are determined by

A problem of price control is

Which of the following is a motive for holding money?

Which of the following is NOT a function of taxation?

What is meant by utility?

One of the following is NOT a reason for increase in public expenditure

A tax system which takes lesser percentage of a tax payers income as his income increase is known as

The demand for a commodity for the sake of what it will yield is

The aim of indigenization policy was to

Using functional relationship in economics QX = f (px, po, y, T); po stand for

The best way of presenting data in tabular form is in

The law of variable proportion state that if the quantities of variable factor of production are used with fixed factor, after a certain point,

Total revenue can be obtained by multiplying

Which of the following is NOT a reason for the absence of an industry in the rural areas?

For a monopolist, the demand curve is

An economy is described as spend-rift if it

Of what importance is a wholesaler in the chain of distribution?

Which of the following is true of a perfect market situation?

In the demographic transition theory, stage II represents a stage where

Averages cost (AC) equal to