NECO SSCE - Economics - 2007 (Objective)

Pergunta 1 Relatório

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

capital gains tax

progressive taxation Resposta correta

proportional taxation

regressive taxation

sales tax

Detalhes da Resposta

Ler a nota de aula em Economics As A Science (JAMB)

Economics As A Science

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Pergunta 2 Relatório

Which of the following is a disadvantage of sole proprietorship?

Does not enjoy limited liability Resposta correta

Decisions are easily made and implemented

Easy to set up

Enjoys secrecy

Maintains dose relationship with workers and customers

Detalhes da Resposta

Ler a nota de aula em Agriculture (WAEC)

Ler a nota de aula em Business Organizations (JAMB)

Ler a nota de aula em Definition And Scope Of Economics (WAEC)

Agriculture

Business Organizations

Definition And Scope Of Economics

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Pergunta 3 Relatório

The difference between bar charts and histograms is that the former

are difference between bars adjoined to each other while the latter are separate bars divided Into sections

are line graphs while the latter are rectangular bars

are separate bars divided Into sections while the latter are line graphs

has bars adjoined to each other while the latter has separate bars

has bars separate from each other while the latter has bars adjoined to each other Resposta correta

Detalhes da Resposta

Ler a nota de aula em Basic Tools Of Economic Analysis (WAEC)

Basic Tools Of Economic Analysis

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Pergunta 4 Relatório

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

combining aid labour means of production

the producers involves Resposta correta

using capital Intensive method of production

using labour intensive method of production

using the method of production with the least cost

Detalhes da Resposta

Ler a nota de aula em Factors Of Production And Their Theories (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

Factors Of Production And Their Theories

Economic Systems

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Pergunta 5 Relatório

The following countries are members of ECOWAS EXCEPT

Angola Resposta correta

Ghana

Ivory coast

Liberia

Niger Republic

Detalhes da Resposta

Ler a nota de aula em Economic Integration (WAEC)

Ler a nota de aula em Financial Institutions (WAEC)

Economic Integration

Financial Institutions

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Pergunta 6 Relatório

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

balance growth

export promotion

import substitution Resposta correta

Industrialization

urbanization

Detalhes da Resposta

Ler a nota de aula em Industry And Industrialization (JAMB)

Industry And Industrialization

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Pergunta 7 Relatório

Population density refers to

total population

the total population divided by the total area of land Resposta correta

the total area of land divided by the total population

the population ratio of male and female

optimum Population level

Detalhes da Resposta

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Pergunta 8 Relatório

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

provision of food for the industrial sector

Provision of funds for industrial development

Provision of raw materials

Supply of labour to the industrial sector

supply of machinery to the industrial sector Resposta correta

Detalhes da Resposta

Ler a nota de aula em Agriculture (WAEC)

Agriculture

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Pergunta 9 Relatório

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

Beef and hides

fuel and kerosene

Palm oil and kernel

Tea and coffee Resposta correta

Wool and Mutton

Detalhes da Resposta

Ler a nota de aula em The Theory Of Supply (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

The Theory Of Supply

Economic Systems

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Pergunta 10 Relatório

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

Allocates resources better

Avoids extreme Inequality of income

Full employment

It is very competent In providing vital social services Resposta correta

No need of employing a host of officials to allocate resources

Detalhes da Resposta

Ler a nota de aula em Economic Systems (JAMB)

Economic Systems

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Pergunta 11 Relatório

In a solo proprietorship, decisions are made by the

board of directors

government

management

owner Resposta correta

shareholders

Detalhes da Resposta

Ler a nota de aula em The Theory Of Supply (JAMB)

Ler a nota de aula em Business Organizations (WAEC)

Ler a nota de aula em Theory Of Costs (JAMB)

Ler a nota de aula em The Theory Of Consumer Behaviour (JAMB)

Ler a nota de aula em Types And Basic Features Of Economic Systems (WAEC)

The Theory Of Supply

Business Organizations

Theory Of Costs

The Theory Of Consumer Behaviour

Types And Basic Features Of Economic Systems

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Pergunta 12 Relatório

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

capital consumption

debt repayments

Investment abroad

net income from abroad Resposta correta

net saving

Detalhes da Resposta

Ler a nota de aula em National Income (WAEC)

National Income

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Pergunta 13 Relatório

The theory of absolute advantage was propounded by

Adam Smith Resposta correta

David Ricardo

Irving Fisher

JB Kynes

Thomas Malthus

Detalhes da Resposta

Ler a nota de aula em Economics As A Science (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

Economics As A Science

Economic Systems

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Pergunta 14 Relatório

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

decrease in bank rate

Decrease in taxation

deficit budget

Export drive Resposta correta

Increase in government expenditure

Detalhes da Resposta

Ler a nota de aula em Money And Inflation (WAEC)

Ler a nota de aula em Public Finance (WAEC)

Ler a nota de aula em Public Finance (JAMB)

Money And Inflation

Public Finance

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Pergunta 15 Relatório

The following methods are used in calculation of National Income EXCEPT

depreciation Resposta correta

Expenditure

Income

Output

value added

Detalhes da Resposta

Ler a nota de aula em Industrialization (WAEC)

Ler a nota de aula em Methods And Tools Of Economic Analysis (JAMB)

Ler a nota de aula em Factors Of Production And Their Theories (JAMB)

Ler a nota de aula em National Income (WAEC)

Industrialization

Methods And Tools Of Economic Analysis

Factors Of Production And Their Theories

National Income

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Pergunta 16 Relatório

The following measures used to check deflation EXCEPT

deficit financing

improving distribution system

increasing wages and salaries

raising the bank rate Resposta correta

reducing taxation

Detalhes da Resposta

Ler a nota de aula em Public Finance (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

Public Finance

Economic Systems

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Pergunta 17 Relatório

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

Burkina Faso

Ivory Coast Resposta correta

Liberia

Niger Republic

Senegal

Detalhes da Resposta

Ler a nota de aula em International Economic Organizations (JAMB)

International Economic Organizations

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Pergunta 18 Relatório

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

balanced

deficit

restricted

surplus Resposta correta

Detalhes da Resposta

Ler a nota de aula em International Trade And Balance Of Payments (WAEC)

Ler a nota de aula em Economic Development And Planning (WAEC)

International Trade And Balance Of Payments

Economic Development And Planning

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Pergunta 19 Relatório

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

Adequate transportation network Resposta correta

Inadequate credit facilities

Inadequate storage facilities

poor processing and packaging

Unnecessary hoarding

Detalhes da Resposta

Ler a nota de aula em Distributive Trade (WAEC)

Distributive Trade

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Pergunta 20 Relatório

Which of the following Is NOT a function of Merchant Bank

Helps public companies to issue new shares

Provision of medium and long-term loans

They accept bills of exchange

They guarantee the buying of shares Resposta correta

They implement government monetary policies

Detalhes da Resposta

Ler a nota de aula em Banking (JAMB)

Banking

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Pergunta 21 Relatório

Branding and packaging of goods Is the function of

brokers

consumers

manufactures Resposta correta

retailers

wholesalers

Detalhes da Resposta

Ler a nota de aula em Business Organizations (JAMB)

Ler a nota de aula em Distributive Trade (WAEC)

Ler a nota de aula em Types And Basic Features Of Economic Systems (WAEC)

Business Organizations

Distributive Trade

Types And Basic Features Of Economic Systems

Ver Resposta

Pergunta 22 Relatório

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

direct

indirect

progressive

proportional Resposta correta

regressive

Detalhes da Resposta

Ler a nota de aula em Economics As A Science (JAMB)

Economics As A Science

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Pergunta 23 Relatório

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

capital

consumer

economic Resposta correta

free

scarce

Detalhes da Resposta

Ler a nota de aula em Economics As A Science (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

Economics As A Science

Economic Systems

Ver Resposta

Pergunta 24 Relatório

Economics is regarded as a social science because It

helps people to be acceptable In the society

Is associated with social dubs

is used by sociologist

studies human behavior Resposta correta

uses controlled experiment

Detalhes da Resposta

Ler a nota de aula em Definition And Scope Of Economics (WAEC)

Ler a nota de aula em Economics As A Science (JAMB)

Definition And Scope Of Economics

Economics As A Science

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Pergunta 25 Relatório

Which of the following is a condition necessary

Few sellers and buyers Resposta correta

Free entry and exist

Homogeneous goods

Lack of preferential treatment

Many callers and buyers

Detalhes da Resposta

Ler a nota de aula em Theory Of Consumer Behaviour (WAEC)

Ler a nota de aula em Market Structure (JAMB)

Theory Of Consumer Behaviour

Market Structure

Ver Resposta

Pergunta 26 Relatório

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

APC

APS

MPC

MPS

The multiplier Resposta correta

Detalhes da Resposta

Ler a nota de aula em National Income (WAEC)

National Income

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Pergunta 27 Relatório

The following are the objectives of economic planning EXCEPT

achieving balanced growth

diversification of the economy

creation of more employment opportunities

equitable allocation of resources

rapid population growth Resposta correta

Detalhes da Resposta

Ler a nota de aula em Economic Development And Planning (WAEC)

Economic Development And Planning

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Pergunta 28 Relatório

The function muv/muz = py/pz represents

consumer’s average utility level

diminishing marginal utility

increasing marginal utility

marginal theory of price

utility maximization Resposta correta

Detalhes da Resposta

Ler a nota de aula em Theory Of Price Determination (WAEC)

Ler a nota de aula em The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

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Pergunta 29 Relatório

The equation MV PT is known as

demand and supply equation

equilibrium equation

equation of exchange

money supply equation Resposta correta

price index numbers

Detalhes da Resposta

Ler a nota de aula em Methods And Tools Of Economic Analysis (JAMB)

Ler a nota de aula em Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

Economics As A Science

Ver Resposta

Pergunta 30 Relatório

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

Availability of social amenities

Development of subsidiary industries

Highly organized markets

supply of skilled labour

traffic De-congestion Resposta correta

Detalhes da Resposta

Ler a nota de aula em Business Organizations (WAEC)

Ler a nota de aula em Distributive Trade (WAEC)

Ler a nota de aula em Industry And Industrialization (JAMB)

Business Organizations

Distributive Trade

Industry And Industrialization

Ver Resposta

Pergunta 31 Relatório

The following are advantages of standard deviation EXCEPT that it

has greater practical utility In sampling Resposta correta

is a good measure of dispersion since all the values are used in its calculation

is important and useful in the analysis of T- Test

is not a sound mathematical index

is the most popular measure of dispersion in distribution

Detalhes da Resposta

Ler a nota de aula em Methods And Tools Of Economic Analysis (JAMB)

Ler a nota de aula em The Theory Of Demand (JAMB)

Ler a nota de aula em The Theory Of Price Determination (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Demand

The Theory Of Price Determination

Ver Resposta

Pergunta 32 Relatório

The first oil refinery in Nigeria was established at

Alesa Eleme

Araromi

Kaduna

Oloibiri Resposta correta

Warri

Detalhes da Resposta

Ler a nota de aula em Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

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Pergunta 33 Relatório

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

balance of payments Resposta correta

balance of trade

budget

Index of trade

terms of trade

Detalhes da Resposta

Ler a nota de aula em International Trade And Balance Of Payments (WAEC)

International Trade And Balance Of Payments

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Pergunta 34 Relatório

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

8 Resposta correta

Detalhes da Resposta

Ler a nota de aula em Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

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Pergunta 35 Relatório

Agricultural production in Nigeria could be improved through

control of plant diseases Resposta correta

Land Fragmentation

Payment of excise duty

the introduction of low yielding crops

the use of traditional implements

Detalhes da Resposta

Ler a nota de aula em Money And Inflation (JAMB)

Ler a nota de aula em Agriculture In Nigeria (JAMB)

Money And Inflation

Agriculture In Nigeria

Ver Resposta

Pergunta 36 Relatório

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

commercialization

indigenization Resposta correta

liberalization

localization

privatization

Detalhes da Resposta

Ler a nota de aula em Economic Systems (JAMB)

Economic Systems

Ver Resposta

Pergunta 37 Relatório

The following are types of monopolies EXCEPT

cartels

holding companies

syndicates

thrifts Resposta correta

trusts

Detalhes da Resposta

Ler a nota de aula em Market Structure (JAMB)

Market Structure

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Pergunta 38 Relatório

The following are bye-products of crude oil EXCEPT

bitumen

kerosene

paraffin wax

perfume Resposta correta

petrol

Detalhes da Resposta

Ler a nota de aula em Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

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Pergunta 39 Relatório

Which of the following is NOT a feature of land?

Free gift of nature

Fixed in supply

Geographically immobile

Returns on land is wages Resposta correta

Subject to law of diminishing returns

Detalhes da Resposta

Ler a nota de aula em Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

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Pergunta 40 Relatório

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

70 Resposta correta

100

140

280

Detalhes da Resposta

Ler a nota de aula em Economics As A Science (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

Economics As A Science

Economic Systems

Ver Resposta

Pergunta 41 Relatório

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

0.2 Resposta correta

0.6

0.7

Detalhes da Resposta

Ler a nota de aula em Economics As A Science (JAMB)

Ler a nota de aula em Money And Inflation (JAMB)

Economics As A Science

Money And Inflation

Ver Resposta

Pergunta 42 Relatório

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

diminishing returns

division of labour

Industrialization

production Resposta correta

specialization

Detalhes da Resposta

Ler a nota de aula em Industrialization (WAEC)

Ler a nota de aula em Agriculture (WAEC)

Ler a nota de aula em The Theory Of Production (JAMB)

Ler a nota de aula em Business Organizations (JAMB)

Ler a nota de aula em Theory Of Production (WAEC)

Industrialization

Agriculture

The Theory Of Production

Business Organizations

Theory Of Production

Ver Resposta

Pergunta 43 Relatório

Plantation farming can best be defined as cultivation of

crops using hoes and cutlasses for farming

food crops for personal consumption

food for use by the family

large scale farms of cash crops Resposta correta

livestock for commercial purposes

Detalhes da Resposta

Ler a nota de aula em Money And Inflation (JAMB)

Money And Inflation

Ver Resposta

Pergunta 44 Relatório

At the point where total utility begins to decline MU is

constant

decreasing

increasing

negative Resposta correta

zero

Detalhes da Resposta

Ler a nota de aula em The Theory Of Consumer Behaviour (JAMB)

Ler a nota de aula em Economics As A Science (JAMB)

The Theory Of Consumer Behaviour

Economics As A Science

Ver Resposta

Pergunta 45 Relatório

Standard deviation can be determined by the square root of the

mean

mean deviation

mode

variance Resposta correta

variance divided by the mean

Detalhes da Resposta

Ler a nota de aula em Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Ver Resposta

Pergunta 46 Relatório

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

cyclical

disguised

Frictional

residual Resposta correta

Voluntary

Detalhes da Resposta

Ler a nota de aula em Agriculture (WAEC)

Ler a nota de aula em Population And Labour Market (WAEC)

Agriculture

Population And Labour Market

Ver Resposta






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