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 Juist antwoord

fluctuating

increasing

proportional

Antwoorddetails

Lees lesnotitie op Money And Inflation (WAEC)

Lees lesnotitie op The Theory Of Consumer Behaviour (JAMB)

Money And Inflation

The Theory Of Consumer Behaviour

Bekijk antwoord

Vraag 16 Verslag

Which of the following is NOT included in-measuring the National income through the income approach?

Allowance given to an aged mother by a civil servant Juist antwoord

Income earned by a bricklayer

Profit earned by Nigerian bottling company plc

profit earned by NITEL plc

Salary earned by a doctor

Antwoorddetails

Lees lesnotitie op National Income (WAEC)

National Income

Bekijk antwoord

Vraag 17 Verslag

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 Juist antwoord

Antwoorddetails

Lees lesnotitie op Theory Of Price Determination (WAEC)

Lees lesnotitie op The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

Bekijk antwoord

Vraag 18 Verslag

The following are rewards for factors of production EXCEPT

interest

profit

rent

subsidy Juist antwoord

wages

Antwoorddetails

Lees lesnotitie op Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

Bekijk antwoord

Vraag 19 Verslag

The trade-off between two commodities along the Production Possibility Curve (PPC) shows

opportunity cost principle

scarcity principle

transferable output

unattainable combination Juist antwoord

under utilization of resources

Antwoorddetails

Lees lesnotitie op International Trade (JAMB)

Lees lesnotitie op The Theory Of Production (JAMB)

International Trade

The Theory Of Production

Bekijk antwoord

Vraag 20 Verslag

Economic problem arises as a result of

choice

money cost

opportunity cost

scarcity Juist antwoord

scale of preference

Antwoorddetails

Lees lesnotitie op Economics As A Science (JAMB)

Economics As A Science

Bekijk antwoord

Vraag 21 Verslag

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

cooperative society

joint stock company

one man business

partnership Juist antwoord

public corporation

Antwoorddetails

Lees lesnotitie op Business Organizations (WAEC)

Lees lesnotitie op Market Structure (JAMB)

Business Organizations

Market Structure

Bekijk antwoord

Vraag 22 Verslag

The following are problems of development planning in Nigeria EXCEPT

death of skilled manpower

inadequate capital

inadequate statistical data

poor implementation of economic planning

under-population Juist antwoord

Antwoorddetails

Lees lesnotitie op Public Finance (WAEC)

Lees lesnotitie op Economic Development And Planning (WAEC)

Public Finance

Economic Development And Planning

Bekijk antwoord

Vraag 23 Verslag

The use of tax and expenditure policy to regulate the economy is known as

deregulation

fiscal policy Juist antwoord

monetary policy

physical measures

structural adjustment

Antwoorddetails

Lees lesnotitie op Public Finance (JAMB)

Public Finance

Bekijk antwoord

Vraag 24 Verslag

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 Juist antwoord

Retailer → Consumer → Producer → Wholesaler

Wholesaler → Retailer → Producer → Consume

Antwoorddetails

Lees lesnotitie op Distributive Trade (WAEC)

Distributive Trade

Bekijk antwoord

Vraag 25 Verslag

Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds

as much to TR as to TC

less to TR as to TC

less to TC than to TR

more to TC than to TR

more to TR than to T Juist antwoord

Antwoorddetails

Lees lesnotitie op The Theory Of Production (JAMB)

The Theory Of Production

Bekijk antwoord

Vraag 26 Verslag

The satisfaction derived from Die consumption of a commodity is referred o as

consumption

demand

production

utility Juist antwoord

utilization

Antwoorddetails

Lees lesnotitie op Theory Of Consumer Behaviour (WAEC)

Theory Of Consumer Behaviour

Bekijk antwoord

Vraag 27 Verslag

Which of the following is NOT a function of the IMF?

assisting member countries in printing and issuing their currency Juist antwoord

Exchange rate stabilization

Promoting international monetary cooperation

Providing financial aid to members experiencing balance of payment difficulties

Serving as a clearing house f member countries

Antwoorddetails

Lees lesnotitie op International Economic Organizations (WAEC)

International Economic Organizations

Bekijk antwoord

Vraag 28 Verslag

When the total product starts falling, then the marginal product is

constant

increasing

maximum

negative Juist antwoord

zero

Antwoorddetails

Lees lesnotitie op The Theory Of Production (JAMB)

Lees lesnotitie op Theory Of Production (WAEC)

The Theory Of Production

Theory Of Production

Bekijk antwoord

Vraag 29 Verslag

The following determine the level of consumption EXCEPT

expectation of price changes

level of income

savings

the rate of taxes paid

the political climate Juist antwoord

Antwoorddetails

Lees lesnotitie op Theory Of Consumer Behaviour (WAEC)

Lees lesnotitie op Theory Of Production (WAEC)

Lees lesnotitie op The Theory Of Demand (JAMB)

Theory Of Consumer Behaviour

Theory Of Production

The Theory Of Demand

Bekijk antwoord

Vraag 30 Verslag

The demand for factors of production is said to be

competitive

complementary

composite

derived Juist antwoord

joint

Antwoorddetails

Lees lesnotitie op Factors Of Production (WAEC)

Factors Of Production

Bekijk antwoord

Vraag 31 Verslag

Range is NOT the best method of measuring dispersion because it considers only the

first number

first two numbers

frequently occurred number

middle number

two extreme number Juist antwoord

Antwoorddetails

Lees lesnotitie op Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Bekijk antwoord

Vraag 32 Verslag

The 2nd National Development plan in Nigeria was between

1962 — 1968

1970 — 1974 Juist antwoord

1975 — 1980

1980 — 1985

1985 — 1990

Antwoorddetails

Lees lesnotitie op National Income (WAEC)

Lees lesnotitie op Economic Development And Planning (WAEC)

National Income

Economic Development And Planning

Bekijk antwoord

Vraag 33 Verslag

Stock exchange market deals with

exchange of commodities

exchange of stock fish for stock

exchange of treasury bills

sales of foreign exchange

sales of second hand securities Juist antwoord

Antwoorddetails

Lees lesnotitie op Supply (WAEC)

Lees lesnotitie op Economics As A Science (JAMB)

Supply

Economics As A Science

Bekijk antwoord

Vraag 34 Verslag

The problem of “how to produce” in any economy is solved by

adopting the least cost method of production

combining capital and labour intensive methods of production Juist antwoord

employing the services of a manager

using capital intensive method of production

using labour intensive method of production

Antwoorddetails

Lees lesnotitie op Theory Of Production (WAEC)

Lees lesnotitie op Market Structures (WAEC)

Theory Of Production

Market Structures

Bekijk antwoord

Vraag 35 Verslag

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

Aiding cooperation among firms

Creating structural unemployment Juist antwoord

Encouraging subsidiary industries

Encouraging the growth of skilled labour

Reducing cost of production

Antwoorddetails

Lees lesnotitie op Market Structure (JAMB)

Market Structure

Bekijk antwoord

Vraag 36 Verslag

If the standard deviation of a set of numbers is 3.6, what is the variance?

12.49

12.69

12.9

12.96 Juist antwoord

12.98

Antwoorddetails

Lees lesnotitie op Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Bekijk antwoord

Vraag 37 Verslag

At the equilibrium price,

demand is greater than supply

demand equates supply Juist antwoord

demand is less than supply

price is equal to demand only

price is equal to supply only

Antwoorddetails

Lees lesnotitie op The Theory Of Price Determination (JAMB)

Lees lesnotitie op Economics As A Science (JAMB)

The Theory Of Price Determination

Economics As A Science

Bekijk antwoord

Vraag 38 Verslag

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

Better medical services

Decrease in death rate

Emigration Juist antwoord

Immigration

Increase in birth rate

Antwoorddetails

Lees lesnotitie op Population And Labour Market (WAEC)

Lees lesnotitie op Population (JAMB)

Population And Labour Market

Population

Bekijk antwoord

Vraag 39 Verslag

Which of the following is NOT associated with minimum price legislation?

Black market

Excess demand Juist antwoord

Excess supply

Unattainable equilibrium

Unemployment

Antwoorddetails

Lees lesnotitie op The Theory Of Price Determination (JAMB)

Lees lesnotitie op Economics As A Science (JAMB)

Lees lesnotitie op Economic Systems (JAMB)

The Theory Of Price Determination

Economics As A Science

Economic Systems

Bekijk antwoord

Vraag 40 Verslag

The formular (N + 1)/2 is used to determine the

mean

median Juist antwoord

mode

standard deviation

mean deviation

Antwoorddetails

Lees lesnotitie op The Theory Of Demand (JAMB)

Lees lesnotitie op Economics As A Science (JAMB)

The Theory Of Demand

Economics As A Science

Bekijk antwoord

Vraag 41 Verslag

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

204

224

240 Juist antwoord

244

248

Antwoorddetails

Lees lesnotitie op Population (JAMB)

Population

Bekijk antwoord

Vraag 42 Verslag

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 Juist antwoord

Antwoorddetails

Lees lesnotitie op International Economic Organizations (JAMB)

Lees lesnotitie op Money And Inflation (JAMB)

International Economic Organizations

Money And Inflation

Bekijk antwoord

Vraag 43 Verslag

The variance of a given set of numbers is defined as the

absolute value of the standard deviation

square of the standard deviation Juist antwoord

square root of the standard deviation

square of the mean deviation

square root of the mean deviation

Antwoorddetails

Lees lesnotitie op Methods And Tools Of Economic Analysis (JAMB)

Lees lesnotitie op The Theory Of Demand (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Demand

Bekijk antwoord

Vraag 44 Verslag

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

consumers Juist antwoord

distributors

retailers

warehouses

wholesalers

Antwoorddetails

Lees lesnotitie op The Theory Of Production (JAMB)

Lees lesnotitie op Business Organizations (JAMB)

The Theory Of Production

Business Organizations

Bekijk antwoord

Vraag 45 Verslag

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 Juist antwoord

rationing of commodities will occur

scarcity of goods will occur

Antwoorddetails

Lees lesnotitie op Methods And Tools Of Economic Analysis (JAMB)

Lees lesnotitie op The Theory Of Supply (JAMB)

Lees lesnotitie op The Theory Of Price Determination (JAMB)

Lees lesnotitie op Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Supply

The Theory Of Price Determination

Economics As A Science

Bekijk antwoord






Druk & Houd Vast om te Verslepen
Klik hier om te sluiten