NECO SSCE - Economics - 2009

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

The first National development plan period was from

Antwoorddetails

Production is best defined in economics as

Antwoorddetails

The purchasing power of the Naira will fall when

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

The value of money is affected by

Antwoorddetails

These are the objectives of industrial strategies in Nigeria EXCEPT

Antwoorddetails

Entrepreneur is associated more with

Antwoorddetails

Disguised unemployment is the same thing as

Antwoorddetails

Average total cost can be expressed as

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

Time deposit is the same thing as

Antwoorddetails

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

Antwoorddetails

Inflation is a …………….

Antwoorddetails

The concept of choice in Economics refers to

Antwoorddetails

The following are qualities of money EXCEPT

Antwoorddetails

A major feature of capitalism is

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

A production possibility curve shows the

Antwoorddetails

Labour force simply means the

Antwoorddetails

Taxes levied on locally manufactured goods are called

Antwoorddetails

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

Antwoorddetails

The mean of the following scores

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

What is the mean deviation?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

The following are the differences between domestic and international trade EXCEPT

Antwoorddetails

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

Antwoorddetails

Which of the following is a form of business enterprise?

Antwoorddetails

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

Antwoorddetails

A monopolist is a

Antwoorddetails

The demand for salt is …………

Antwoorddetails

Price elasticity of supply measures the responsiveness of quantity supplied to

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

The growth of a country’s population is affected by

Antwoorddetails

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

Antwoorddetails

Economic growth can be defined as

Antwoorddetails