NECO SSCE - Economics - 2002 (Objective)

If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, what is the price elasticity of demand for the commodity?

0.5

0.8 Azịza ziri ezi

1.5

1.8

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na The Theory Of Demand (JAMB)

Gụọ akwụkwọ nkuzi na The Theory Of Price Determination (JAMB)

The Theory Of Demand

The Theory Of Price Determination

Lee Azịza

Ajụjụ 35 Ripọtì

Transcationary motive implies, holding money

for future investment

for day to day expenses Azịza ziri ezi

for unforeseen contingencies

to settle previous debts

to buy share in the stock exchange market

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Money And Inflation (WAEC)

Gụọ akwụkwọ nkuzi na National Income (WAEC)

Gụọ akwụkwọ nkuzi na International Trade (JAMB)

Gụọ akwụkwọ nkuzi na Public Finance (JAMB)

Money And Inflation

National Income

International Trade

Public Finance

Lee Azịza

Ajụjụ 36 Ripọtì

Which of these is NOT associated with the problem of internal trade?

bargaining

lack of specialization

market trade unions

natural barriers Azịza ziri ezi

large number of middlemen

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Economics As A Science (JAMB)

Gụọ akwụkwọ nkuzi na Economic Systems (JAMB)

Economics As A Science

Economic Systems

Lee Azịza

Ajụjụ 37 Ripọtì

Which of these is a necessary condition for trade by barter?

double coincidence of wants Azịza ziri ezi

double exchange rate

durability of goods

divisibility of commodities

homogeneity of goods

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Demand (WAEC)

Demand

Lee Azịza

Ajụjụ 38 Ripọtì

If commodities A & B are jointly demanded, what will be the effect of an increase in the price of A on the demand for commodity B?

decrease in demand for commodity B Azịza ziri ezi

decrease in price of commodity B

demand for commodity B remain constant

increase in demand for commodity B

increase in the price of commodity B

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na The Theory Of Demand (JAMB)

Gụọ akwụkwọ nkuzi na Demand (WAEC)

The Theory Of Demand

Demand

Lee Azịza

Ajụjụ 39 Ripọtì

The main function of retailer in the distribution channel is

advertising the product on behalf of manufacturers

bulk breaking

branding and packaging of good

direct customer services Azịza ziri ezi

storage facilities for finished products

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Distributive Trade (WAEC)

Distributive Trade

Lee Azịza

Ajụjụ 40 Ripọtì

Remuneration of labour based on number of hours worked is known as

fees

commission

time-rates Azịza ziri ezi

salary

wages

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na The Theory Of Demand (JAMB)

The Theory Of Demand

Lee Azịza

Ajụjụ 41 Ripọtì

If the consumer demand for product X increases, as the demand for product, Y increases then the goods X and Y are

complimentary goods Azịza ziri ezi

composite goods

derived good

independent goods

substitute good

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Theory Of Consumer Behaviour (WAEC)

Gụọ akwụkwọ nkuzi na The Theory Of Demand (JAMB)

Gụọ akwụkwọ nkuzi na Demand (WAEC)

Theory Of Consumer Behaviour

The Theory Of Demand

Demand

Lee Azịza

Ajụjụ 42 Ripọtì

Which of the folowing NOT among the objectives of OPEC?

to stabilize the revenue from oil to producing countries

to stabilize the price of iol in the world market Azịza ziri ezi

to make sure that oil flows to all the consuming countries

to estabilished petroleum refineries in all member state

to co-ordinate and harmonize the oil policies of member countries

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na International Economic Organizations (JAMB)

International Economic Organizations

Lee Azịza

Ajụjụ 43 Ripọtì

The middle value of an array figure arranged in descending order is referred to as the

equation

mean

Median Azịza ziri ezi

mode

Variance

Akọwa Nkọwa

Gụọ akwụkwọ nkuzi na Theory Of Price Determination (WAEC)

Gụọ akwụkwọ nkuzi na Theory Of Costs (JAMB)

Gụọ akwụkwọ nkuzi na The Theory Of Price Determination (JAMB)

Theory Of Price Determination

Theory Of Costs

The Theory Of Price Determination

Lee Azịza

Ajụjụ 44 Ripọtì

What is the median term in the distribution below ;14, 13 29 ,15 ,13,17 ,12,

14 Azịza ziri ezi

Akọwa Nkọwa

Lee Azịza






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