NECO SSCE - Economics - 2003 | Green Bridge CBT

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

N10

N20

N30

N40

N50

Detalhes da Resposta

Read lesson note on The Theory Of Supply (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Supply (WAEC)

The Theory Of Supply

Theory Of Price Determination

The Theory Of Demand

The Theory Of Price Determination

Supply

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Pergunta 31 Relatório

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

an increase in quantity demanded

a decrease in quantity demanded

an expansion of demand

a fall in demand

price effect on demand

Detalhes da Resposta

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on Demand (WAEC)

Theory Of Price Determination

The Theory Of Demand

Demand

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Pergunta 32 Relatório

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

competitive demand

composite demand

effective demand

joint demand

Detalhes da Resposta

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on Demand (WAEC)

The Theory Of Demand

Demand

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Pergunta 33 Relatório

Equilibrium prices is

a price which equates demand with supply

a price where there is excess demand

where consumers gain much

where producers gain much

where supply is more than demand

Detalhes da Resposta

Ver Resposta

Pergunta 34 Relatório

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

declining birth rates with low death rates lead to little or no population growth

high birth rate with low death rates lead to no population growth

there is population growth due to high birth rates and low death rates at that stages

there is a slow rate of population growth as a result of high birth rate accompanied by high but slightly fluctuating death rate

there is a very high growth as population as a result of high birth rates accompanied by high but slightly fluctuating death rates

Detalhes da Resposta

Read lesson note on Population (JAMB)

Population

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Pergunta 35 Relatório

Which of the following is NOT a factor determining supply?

cost of production

climatic condition or weather

income of the producers

number of producers

technological development

Detalhes da Resposta

Read lesson note on The Theory Of Supply (JAMB)

Read lesson note on Economic Development And Planning (WAEC)

The Theory Of Supply

Economic Development And Planning

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Pergunta 36 Relatório

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

creation of artificial scarcity

bulk breaking

formation of trade unionism

hoarding of goods

making prompt payment to producers

Detalhes da Resposta

Read lesson note on Distributive Trade (WAEC)

Distributive Trade

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Pergunta 37 Relatório

Price legislation means

directing market specialist to fix prices

interplay of either demand or supply

producers are prices givers

regulating the price system by the government

the use of market forces

Detalhes da Resposta

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economic Systems (JAMB)

The Theory Of Price Determination

Economic Systems

Ver Resposta

Pergunta 38 Relatório

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

direct tax

indirect tax

progressive tax

proportional tax

regressive tax

Detalhes da Resposta

Read lesson note on Economics As A Science (JAMB)

Economics As A Science

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Pergunta 39 Relatório

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

cocoa

coffee

copper

kola nut

soy beans

Detalhes da Resposta

Read lesson note on Money And Inflation (JAMB)

Read lesson note on Agriculture In Nigeria (JAMB)

Money And Inflation

Agriculture In Nigeria

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Pergunta 40 Relatório

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

absolute cost advantages

absolute cost disadvantages

comparative cost advantages

comparative cost disadvantages

the availability of labour

Detalhes da Resposta

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Types And Basic Features Of Economic Systems (WAEC)

Economics As A Science

Types And Basic Features Of Economic Systems

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Pergunta 41 Relatório

The per capita income is calculated as

GNP- working age population

GNP- real national income

GNP- total capital expenditure

GNP- dependency ratio

GNP- population

Detalhes da Resposta

Read lesson note on Factors Of Production And Their Theories (JAMB)

Read lesson note on National Income (WAEC)

Read lesson note on Money And Inflation (JAMB)

Factors Of Production And Their Theories

National Income

Money And Inflation

Ver Resposta

Pergunta 42 Relatório

Central bank of Nigerian started operation

1958

1959

1960

1963

1973

Detalhes da Resposta

Read lesson note on Banking (JAMB)

Banking

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Pergunta 43 Relatório

The best way of presenting data in tabular form is in

bars and columns

charts and lines

maps and rows

pictographs and histogram

rows and columns

Detalhes da Resposta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Read lesson note on Basic Tools Of Economic Analysis (WAEC)

Methods And Tools Of Economic Analysis

Basic Tools Of Economic Analysis

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Pergunta 44 Relatório

In a free market economy, wages are determined by

the employees

the employers

trade unions

interaction of demand and supply forces

the government

Detalhes da Resposta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Read lesson note on Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

Economics As A Science

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Pergunta 45 Relatório

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

each successive unit of the variable factor brings about a decreasing marginal product

each successive unit of the variable factor bring about equal increase in marginal product

each successive unit of the variable factor bring about an increasing marginal product

each successive unit of the variable factor bring about four time increase in marginal product

each successive unit of the variable factor bring about more than equal increase in marginal product

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

The Theory Of Production

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Pergunta 46 Relatório

Total revenue can be obtained by multiplying

price by quantity sold

averages revenue by the demand

marginal revenue by marginal cost

average revenue plus marginal revenue

average cost by variable cost

Detalhes da Resposta

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

Ver Resposta

Pergunta 47 Relatório

Efficiency of labour implies

education and training

good working condition

healthier workforce

increased productivity worker accompanied by improvement in the quality of output

the amount of incentives or remuneration given to workers

Detalhes da Resposta

Read lesson note on Theory Of Consumer Behaviour (WAEC)

Read lesson note on Business Organizations (JAMB)

Read lesson note on Theory Of Production (WAEC)

Read lesson note on Population And Labour Market (WAEC)

Theory Of Consumer Behaviour

Business Organizations

Theory Of Production

Population And Labour Market

Ver Resposta

Pergunta 48 Relatório

Which of the following is NOT a function of taxation?

make few people rich in the country

raise revenue for the government

redistribution of income

reduces production and consumption of harmful goods

used as anti-inflationary device

Detalhes da Resposta

Read lesson note on Economic Systems (JAMB)

Economic Systems

Ver Resposta

Pergunta 49 Relatório

Which of the following is NOT a cause of inflation?

excessive bank lending

excessive deficit financing

increase in domestics productivity

increase in wages and salaries of workers

increase in government expenditure

Detalhes da Resposta

Read lesson note on Money And Inflation (WAEC)

Read lesson note on International Trade And Balance Of Payments (WAEC)

Read lesson note on Financial Institutions (WAEC)

Money And Inflation

International Trade And Balance Of Payments

Financial Institutions

Ver Resposta

Pergunta 50 Relatório

The most generally accepted definition of economics is

an inquiry into the nature and causes of the wealth of nations

the science of material welfare

the science which studies human behavior as a relationship between ends and scarce means which have alternative use

the science that treats phenomena from the stand point of price

the practical science of production and distribution of wealth

Detalhes da Resposta

Read lesson note on Definition And Scope Of Economics (WAEC)

Definition And Scope Of Economics

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