NECO SSCE - Economics - 2005 (Objective)

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 Amsar da ta dace

fluctuating

increasing

proportional

Bayanin Amsa

Karanta bayanin darasi akan Money And Inflation (WAEC)

Karanta bayanin darasi akan The Theory Of Consumer Behaviour (JAMB)

Money And Inflation

The Theory Of Consumer Behaviour

Duba Amsa

Tambaya 30 Rahoto

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 Amsar da ta dace

Retailer → Consumer → Producer → Wholesaler

Wholesaler → Retailer → Producer → Consume

Bayanin Amsa

Karanta bayanin darasi akan Distributive Trade (WAEC)

Distributive Trade

Duba Amsa

Tambaya 31 Rahoto

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

consumers Amsar da ta dace

distributors

retailers

warehouses

wholesalers

Bayanin Amsa

Karanta bayanin darasi akan The Theory Of Production (JAMB)

Karanta bayanin darasi akan Business Organizations (JAMB)

The Theory Of Production

Business Organizations

Duba Amsa

Tambaya 32 Rahoto

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

Aiding cooperation among firms

Creating structural unemployment Amsar da ta dace

Encouraging subsidiary industries

Encouraging the growth of skilled labour

Reducing cost of production

Bayanin Amsa

Karanta bayanin darasi akan Market Structure (JAMB)

Market Structure

Duba Amsa

Tambaya 33 Rahoto

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 Amsar da ta dace

Marketing of farm produce

Price stabilization

Bayanin Amsa

Karanta bayanin darasi akan Industry And Industrialization (JAMB)

Industry And Industrialization

Duba Amsa

Tambaya 34 Rahoto

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

cooperative society

joint stock company

one man business

partnership Amsar da ta dace

public corporation

Bayanin Amsa

Karanta bayanin darasi akan Business Organizations (WAEC)

Karanta bayanin darasi akan Market Structure (JAMB)

Business Organizations

Market Structure

Duba Amsa

Tambaya 35 Rahoto

The demand for factors of production is said to be

competitive

complementary

composite

derived Amsar da ta dace

joint

Bayanin Amsa

Karanta bayanin darasi akan Factors Of Production (WAEC)

Factors Of Production

Duba Amsa

Tambaya 36 Rahoto

The following will occur when maximum price is fixed below the free market price EXCEPT that

black market will be encouraged

excess demand will occur

excess supply will occur Amsar da ta dace

rationing of commodities will occur

scarcity of goods will occur

Bayanin Amsa

Karanta bayanin darasi akan Methods And Tools Of Economic Analysis (JAMB)

Karanta bayanin darasi akan The Theory Of Supply (JAMB)

Karanta bayanin darasi akan The Theory Of Price Determination (JAMB)

Karanta bayanin darasi akan Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Supply

The Theory Of Price Determination

Economics As A Science

Duba Amsa

Tambaya 37 Rahoto

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

Better medical services

Decrease in death rate

Emigration Amsar da ta dace

Immigration

Increase in birth rate

Bayanin Amsa

Karanta bayanin darasi akan Population And Labour Market (WAEC)

Karanta bayanin darasi akan Population (JAMB)

Population And Labour Market

Population

Duba Amsa

Tambaya 38 Rahoto

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

204

224

240 Amsar da ta dace

244

248

Bayanin Amsa

Karanta bayanin darasi akan Population (JAMB)

Population

Duba Amsa

Tambaya 39 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan International Economic Organizations (JAMB)

Karanta bayanin darasi akan Money And Inflation (JAMB)

International Economic Organizations

Money And Inflation

Duba Amsa

Tambaya 40 Rahoto

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 Amsar da ta dace

creation of rural employment

Bayanin Amsa

Karanta bayanin darasi akan Agriculture (WAEC)

Karanta bayanin darasi akan Money And Inflation (JAMB)

Agriculture

Money And Inflation

Duba Amsa

Tambaya 41 Rahoto

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 Amsar da ta dace

Stabilizing oil prices putting a production ceiling

Bayanin Amsa

Karanta bayanin darasi akan Petroleum And The Nigerian Economy (JAMB)

Karanta bayanin darasi akan Money And Inflation (JAMB)

Petroleum And The Nigerian Economy

Money And Inflation

Duba Amsa

Tambaya 42 Rahoto

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 Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan Theory Of Price Determination (WAEC)

Karanta bayanin darasi akan The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

Duba Amsa

Tambaya 43 Rahoto

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

DD = SS

DD < SS

MC > AC

MC < AR

MC = MR Amsar da ta dace

Bayanin Amsa

Karanta bayanin darasi akan The Theory Of Supply (JAMB)

Karanta bayanin darasi akan The Theory Of Demand (JAMB)

Karanta bayanin darasi akan The Theory Of Price Determination (JAMB)

Karanta bayanin darasi akan Economics As A Science (JAMB)

The Theory Of Supply

The Theory Of Demand

The Theory Of Price Determination

Economics As A Science

Duba Amsa

Tambaya 44 Rahoto

ECOWAS secretariat is located in

Abuja, Nigeria Amsar da ta dace

Accra, Ghana

Conakry, Guinea

Freetown, Sierra Leone

Monrovia, Liberia V

Bayanin Amsa

Karanta bayanin darasi akan International Economic Organizations (JAMB)

International Economic Organizations

Duba Amsa

Tambaya 45 Rahoto

At the equilibrium price,

demand is greater than supply

demand equates supply Amsar da ta dace

demand is less than supply

price is equal to demand only

price is equal to supply only

Bayanin Amsa

Karanta bayanin darasi akan The Theory Of Price Determination (JAMB)

Karanta bayanin darasi akan Economics As A Science (JAMB)

The Theory Of Price Determination

Economics As A Science

Duba Amsa






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