NECO SSCE - Economics - 2003 (Objective)

The aim of indigenization policy was to

The per capita income is calculated as

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

Which of the following is NOT a factor determining supply?

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

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

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

An economy is described as spend-rift if it

In calculating mean one should

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

The central point of the Malthusian theory is that

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

Which of the following is a motive for holding money?

A problem of price control is

Economic growth is the

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

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

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 major export crop in Nigeria?

Which of the following is NOT a function of taxation?

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

Which of the following is NOT a cause of inflation?

Price legislation means

The best way of presenting data in tabular form is in

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

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

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

In a free market economy, wages are determined by

Data presented in a circular chart is known as

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

Central bank of Nigerian started operation

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

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

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

In the equation MV = PT; V stand for

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

Equilibrium prices is

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

Efficiency of labour implies

Minimum price control is aimed at

What is meant by utility?

Total revenue can be obtained by multiplying

ECOWAS Visa lasts for

Which of the following is a characteristic of private enterprises?

Averages cost (AC) equal to

The most generally accepted definition of economics is

The first commercial oil well in Nigeria was discovered in

Which of the following is NOT a component of agriculture?

For a monopolist, the demand curve is