NECO SSCE - Economics - 2002 | Green Bridge CBT

If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, what is the price elasticity of demand for the commodity?

0.5

0.8

1.5

1.8

Detalhes da Resposta

Read lesson note on The Theory Of Demand (JAMB)

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

The Theory Of Demand

The Theory Of Price Determination

Ver Resposta

Pergunta 14 Relatório

One of the fundamental economic problem of every society is

allocation of scarce resource

availability of market

consumption pattern of inhabitant

presence of middle man

inadequate labour force

Detalhes da Resposta

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

Read lesson note on Economics As A Science (JAMB)

Definition And Scope Of Economics

Economics As A Science

Ver Resposta

Pergunta 15 Relatório

Which of these is NOT associated with the problem of internal trade?

bargaining

lack of specialization

market trade unions

natural barriers

large number of middlemen

Detalhes da Resposta

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Economic Systems (JAMB)

Economics As A Science

Economic Systems

Ver Resposta

Pergunta 16 Relatório

Government expenditure on universal basic education and subsidy on agriculture are aimed at

encouraging growth of the economy

projecting images of government

re-allocation of resources

redistribution of income and wealth

stabilization of the economy

Detalhes da Resposta

Read lesson note on National Income (WAEC)

Read lesson note on Public Finance (JAMB)

National Income

Public Finance

Ver Resposta

Pergunta 17 Relatório

Remuneration of labour based on number of hours worked is known as

fees

commission

time-rates

salary

wages

Detalhes da Resposta

Read lesson note on The Theory Of Demand (JAMB)

The Theory Of Demand

Ver Resposta

Pergunta 18 Relatório

The willingness of an individual backed up with purchasing power at a given time is

demand

desire

effective demand

utility

want

Detalhes da Resposta

Read lesson note on Demand (WAEC)

Read lesson note on Economics As A Science (JAMB)

Demand

Economics As A Science

Ver Resposta

Pergunta 19 Relatório

The Nigerian indigenization decree process involves

5 phases

6 phases

4 phases

3 phases

2 phases

Detalhes da Resposta

Ver Resposta

Pergunta 20 Relatório

Which of the following measure will NOT serves as a control during inflation period?

increase in personal income tax

increase in bank rate and interest

increase in government capital expenditure

reduction in money supply

reduction in government recurrent expenditure

Detalhes da Resposta

Read lesson note on Money And Inflation (WAEC)

Read lesson note on Public Finance (WAEC)

Money And Inflation

Public Finance

Ver Resposta

Pergunta 21 Relatório

What is the median term in the distribution below ;14, 13 29 ,15 ,13,17 ,12,

Detalhes da Resposta

Ver Resposta

Pergunta 22 Relatório

Transcationary motive implies, holding money

for future investment

for day to day expenses

for unforeseen contingencies

to settle previous debts

to buy share in the stock exchange market

Detalhes da Resposta

Read lesson note on Money And Inflation (WAEC)

Read lesson note on National Income (WAEC)

Read lesson note on International Trade (JAMB)

Read lesson note on Public Finance (JAMB)

Money And Inflation

National Income

International Trade

Public Finance

Ver Resposta

Pergunta 23 Relatório

Disposable income in national income accounting is an income which

cannot be used again

is available for consumption and saving

is a available to disabled people

must be wasted once and for all

pensioners receive from the treasury board

Detalhes da Resposta

Read lesson note on National Income (WAEC)

National Income

Ver Resposta

Pergunta 24 Relatório

The bank established to finances project aimed at promoting economic and social development within the African continent is

African bank for commerce and industry

African development bank

economic bank for African

recovery fund bank for Africa

Africa currency board bank

Detalhes da Resposta

Read lesson note on Economic Development And Planning (WAEC)

Economic Development And Planning

Ver Resposta

Pergunta 25 Relatório

If the consumer demand for product X increases, as the demand for product, Y increases then the goods X and Y are

complimentary goods

composite goods

derived good

independent goods

substitute good

Detalhes da Resposta

Read lesson note on Theory Of Consumer Behaviour (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on Demand (WAEC)

Theory Of Consumer Behaviour

The Theory Of Demand

Demand

Ver Resposta

Pergunta 26 Relatório

The main disadvantages of deflationary policies is

full employment in the country

increasing cost of living

improved standard of living

unemployment in the country

under employment in the country

Detalhes da Resposta

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Economic Systems (JAMB)

Economics As A Science

Economic Systems

Ver Resposta

Pergunta 27 Relatório

The 1962-1968 development plan in nigerian failed because of

absence of indigenous bank

higher exchange rate

non availability of finance house

movement of colonial masters

over dependency on foreign capital

Detalhes da Resposta

Read lesson note on Public Finance (JAMB)

Read lesson note on Banking (JAMB)

Public Finance

Banking

Ver Resposta

Pergunta 28 Relatório

A producer who can only influence the price of his product but canNOT determine the quantity to be sold is referred to as

duopoly

monopolist

monopsonist

oligopoly

perfect competitor

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

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

The Theory Of Production

Theory Of Price Determination

The Theory Of Price Determination

Ver Resposta

Pergunta 29 Relatório

Which of the following is NOT a feature of capitalism ?

detailed economics planning

Free enterprise

competition

private ownership of property

Entrepreneurs and the pursuit of profit

Detalhes da Resposta

Read lesson note on Economic Systems (JAMB)

Economic Systems

Ver Resposta

Pergunta 30 Relatório

The following are reward for factors of production EXCEPT

interests

profit

Rent and commissions

rates and deposits

wage and salaries

Detalhes da Resposta

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

Read lesson note on Factors Of Production (WAEC)

Factors Of Production And Their Theories

Factors Of Production

Ver Resposta

Pergunta 31 Relatório

The following are type of business organization EXCEPT

co-operative society

Entrepreneurship

partnership

public corporation

Sole proprietorship

Detalhes da Resposta

Read lesson note on Business Organizations (WAEC)

Business Organizations

Ver Resposta

Pergunta 32 Relatório

When an economy is having a balance of payment surplus the best alternative opened to it is to

borrow from abroad

devalue its currency

increase its foreign reserve

promote imports into the country

sell out its foreign assets

Detalhes da Resposta

Ver Resposta

Pergunta 33 Relatório

One of the function of united nation conference on trade and development (UNTAD) is to

carry out feasibility study for projects in less developed countries

increase impact of developed countries over less developed countries

increase share of less developed countries in world trade

make goods available in developed countries

transfer technology from developed to less developed countries

Detalhes da Resposta

Read lesson note on Major Natural Resources (WAEC)

Read lesson note on International Economic Organizations (WAEC)

Major Natural Resources

International Economic Organizations

Ver Resposta

Pergunta 34 Relatório

When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as

demand curve

indifference curve

opportunity curve

utility curve

supply curve

Detalhes da Resposta

Read lesson note on Market Structures (WAEC)

Market Structures

Ver Resposta

Pergunta 35 Relatório

Which of the following is NOT a factor that brings about changes in demand?

a change in real income

government policy

increase in population

the price of the good or service

taste and fashion

Detalhes da Resposta

Read lesson note on The Theory Of Demand (JAMB)

The Theory Of Demand

Ver Resposta

Pergunta 36 Relatório

An economic system in which the decision on what and how to produce is determined by the individual is called

capitalism

communism

Socialism

traditionalism

welfarism

Detalhes da Resposta

Read lesson note on Economic Systems (JAMB)

Economic Systems

Ver Resposta

Pergunta 37 Relatório

In income determination theory, acceleration principles shows that

income is the cause, while investment is the effect investment

income and investment are both causes

income and investment are both effects

incomes is of on effect on investment

investment is the causes, while income is the effects

Detalhes da Resposta

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

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

Methods And Tools Of Economic Analysis

The Theory Of Price Determination

Ver Resposta

Pergunta 38 Relatório

To discourage the consumption of harmful commodities, government should tax such commodities if they have

elastic demand

inelastic demand

negative demand

positive demand

unitary demand

Detalhes da Resposta

Read lesson note on The Theory Of Demand (JAMB)

The Theory Of Demand

Ver Resposta

Pergunta 39 Relatório

In production, total cost comprises of

averages cost and marginal cost

variable cost and averages cost

variable cost and fixed cost

marginal cost and variable cost

fixed cost and averages cost

Detalhes da Resposta

Read lesson note on Theory Of Costs (JAMB)

Read lesson note on Theory Of Production (WAEC)

Theory Of Costs

Theory Of Production

Ver Resposta

Pergunta 40 Relatório

The main function of retailer in the distribution channel is

advertising the product on behalf of manufacturers

bulk breaking

branding and packaging of good

direct customer services

storage facilities for finished products

Detalhes da Resposta

Read lesson note on Distributive Trade (WAEC)

Distributive Trade

Ver Resposta

Pergunta 41 Relatório

In a two-sector economy, income is a function of

consumption + investment

consumption + investment + tax

consumption + investment + expenditure

consumption + exports + imports

saving + investment

Detalhes da Resposta

Read lesson note on Public Finance (JAMB)

Read lesson note on The Theory Of Demand (JAMB)

Public Finance

The Theory Of Demand

Ver Resposta

Pergunta 42 Relatório

The middle value of an array figure arranged in descending order is referred to as the

equation

mean

Median

mode

Variance

Detalhes da Resposta

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on Theory Of Costs (JAMB)

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

Theory Of Price Determination

Theory Of Costs

The Theory Of Price Determination

Ver Resposta

Pergunta 43 Relatório

The comparison of the standard of living between Nigeria and Ghana is best down through the use of

gross domestic product

gross National incomes

Net disposable income

Net National income

per capita income

Detalhes da Resposta

Read lesson note on National Income (WAEC)

Read lesson note on National Income (JAMB)

National Income

Ver Resposta

Pergunta 44 Relatório

The contribution of petroleum to the economy of nigerian is most prominent in the area of

employment generation

fuel provision

infrastructural development

revenue generation

technical know-how

Detalhes da Resposta

Read lesson note on Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

Ver Resposta






Pressione e Mantenha para Arrastar
Clique aqui para fechar