NECO SSCE - Economics - 2003

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

Price legislation means

An economy is described as spend-rift if it

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

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

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

Efficiency of labour implies

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

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

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

In the equation MV = PT; V stand for

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

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

For a monopolist, the demand curve is

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

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

Minimum price control is aimed at

The per capita income is calculated as

The theory of income determination is traced to

Data presented in a circular chart is known as

Which of the following is a characteristic of private enterprises?

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

A problem of price control is

The central point of the Malthusian theory is that

The aim of indigenization policy was to

Which of the following is NOT a function of taxation?

Total revenue can be obtained by multiplying

The first commercial oil well in Nigeria was discovered in

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

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

Averages cost (AC) equal to

The best way of presenting data in tabular form is in

Central bank of Nigerian started operation

Equilibrium prices is

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

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?

Which of the following is NOT a factor determining supply?

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

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

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

Which of the following is a motive for holding money?

Economic growth is the

What is meant by utility?

In a free market economy, wages are determined by

Which of the following is NOT a component of agriculture?

ECOWAS Visa lasts for

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

In calculating mean one should

The most generally accepted definition of economics is