NECO SSCE - Economics - 2003

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

Minimum price control is aimed at

In the equation MV = PT; V stand for

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

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

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

For a monopolist, the demand curve is

Central bank of Nigerian started operation

Which of the following is NOT a cause of inflation?

The first commercial oil well in Nigeria was discovered in

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

The theory of income determination is traced to

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

Economic growth is the

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

Which of the following is NOT a factor determining supply?

Efficiency of labour implies

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

Which of the following is NOT a function of taxation?

In calculating mean one should

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

Equilibrium prices is

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

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

Which of the following is a motive for holding money?

The per capita income is calculated as

The most generally accepted definition of economics is

The best way of presenting data in tabular form is in

Data presented in a circular chart is known as

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

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

Which of the following is a characteristic of private enterprises?

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

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

Price legislation means

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

Total revenue can be obtained by multiplying

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

ECOWAS Visa lasts for

A problem of price control is

Which of the following is NOT a component of agriculture?

In a free market economy, wages are determined by

The central point of the Malthusian theory is that

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

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

An economy is described as spend-rift if it

Averages cost (AC) equal to

The aim of indigenization policy was to

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

What is meant by utility?