NECO SSCE - Economics - 2009

Economic growth can be defined as

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

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

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

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

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

Time deposit is the same thing as

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

Labour force simply means the

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

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

A monopolist is a

These are the objectives of industrial strategies in Nigeria EXCEPT

The first National development plan period was from

Production is best defined in economics as

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

Average total cost can be expressed as

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

Which of the following is a form of business enterprise?

The purchasing power of the Naira will fall when

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

Entrepreneur is associated more with

The following are qualities of money EXCEPT

The growth of a country’s population is affected by

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

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

The value of money is affected by

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

The following are the differences between domestic and international trade EXCEPT

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

The concept of choice in Economics refers to

A major feature of capitalism is

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

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

The mean of the following scores

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

What is the mean deviation?

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

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

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

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

A production possibility curve shows the

Taxes levied on locally manufactured goods are called

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

Disguised unemployment is the same thing as

Inflation is a …………….

The demand for salt is …………

Price elasticity of supply measures the responsiveness of quantity supplied to

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

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