NECO SSCE - Economics - 2007

Plantation farming can best be defined as cultivation of

A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.

The difference between Gross National Income and Gross Domestic Product is known as

The following methods are used in calculation of National Income EXCEPT

Population density refers to

A deliberate government policy to exclude foreign participation in certain economic activity is known as

A comprehensive statement of Income and expenditure on international accounts for one financial year is called

In a solo proprietorship, decisions are made by the

The African Development Bank was set up in 1964 and has its headquarters in

The following are bye-products of crude oil EXCEPT

The Industrial strategy of producing locally those goods that could have been imported is known as

The solution to problem of how to produce in a capitalist economy is solved by

Which of the following is NOT an advantage of localization of industry?

Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14

Goods that are useful, scarce and can command price are called …………. goods.

Standard deviation can be determined by the square root of the

The equation MV PT is known as

The creation of physical and concrete goods that can be seen and handled Is

The first oil refinery in Nigeria was established at

The following are the objectives of economic planning EXCEPT

Which of the following is NOT a contribution of agriculture to industrial development?

A change in National Income brought about by a given change in investment Is

Which of the following is a disadvantage of sole proprietorship?

The following measures used to check deflation EXCEPT

If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is

Which of the following is NOT a feature of land?

Which of the following Is NOT a function of Merchant Bank

Unemployment resulting from physical or mental deficiency is known as……………unemployment.

The function muv/muz = py/pz represents

The following countries are members of ECOWAS EXCEPT

Which of these is NOT a bottle neck In the distribution of goods In Nigeria?

Economics is regarded as a social science because It

The following are advantages of standard deviation EXCEPT that it

Agricultural production in Nigeria could be improved through

The difference between bar charts and histograms is that the former

Branding and packaging of goods Is the function of

The following are types of monopolies EXCEPT

Which of the following goods are NOT examples of joint supply?

At the point where total utility begins to decline MU is

Which of the following is a condition necessary

A tax system in which the rich pay a higher percentage of income as tax than the poor is known as

Which of the following is an advantage of free enterprise economy?

The theory of absolute advantage was propounded by

If total Income is N15m and total consumption Is N3m. then the average propensity to consume is

which of the following measures can be used to control inflation?

If the price Index of export is 140% and import is 200%, what is