NECO SSCE - Economics - 2009 (Objective)

Pergunta 1 Relatório

These are the objectives of industrial strategies in Nigeria EXCEPT

industrial financing

maximization of local value added Resposta correta

promotion of export oriented industries

promotion of import oriented industries

provision of economic and social infrastructures

Detalhes da Resposta

Ler a nota de aula em Public Finance (JAMB)

Ler a nota de aula em Distributive Trade (WAEC)

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

Public Finance

Distributive Trade

Industry And Industrialization

Ver Resposta

Pergunta 2 Relatório

The unit for measuring changes in prices and output is called ………………. index

capital

expenditure

income

money

price 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 Consumer Behaviour (JAMB)

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

Theory Of Price Determination

The Theory Of Consumer Behaviour

The Theory Of Price Determination

Ver Resposta

Pergunta 3 Relatório

One of the roles of industrialization in economic development of Nigeria is

employment generation Resposta correta

environmental pollution

target of enemy’s attack

unemployment

uneven development

Detalhes da Resposta

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

Industry And Industrialization

Ver Resposta

Pergunta 4 Relatório

Economic growth can be defined as

a rapid and sustained rise in real output per head

A rise in real income per head Resposta correta

an increase in technology only

insufficiency in food production

over population in a country

Detalhes da Resposta

Ver Resposta

Pergunta 5 Relatório

The value of money is affected by

consumer’s income

effective demand

effective supply

equilibrium price

general price level Resposta correta

Detalhes da Resposta

Ler a nota de aula em Banking (JAMB)

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

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

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

Banking

The Theory Of Demand

The Theory Of Price Determination

Money And Inflation

Ver Resposta

Pergunta 6 Relatório

Taxes levied on locally manufactured goods are called

custom duties

excise duties Resposta correta

purchase tax

sales tax

VAT

Detalhes da Resposta

Ler a nota de aula em Public Finance (WAEC)

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

Public Finance

The Theory Of Demand

Ver Resposta

Pergunta 7 Relatório

The demand curve of a perfect competitive market is infinitely elastic indicating that the firm can

refuse to sell any quantity

sell any quantity of output at the prevailing price Resposta correta

sell fixed quantity of output at the prevailing market price

sell less quantity

sell more quantity at a higher price

Detalhes da Resposta

Ler a nota de aula em Demand (WAEC)

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

Demand

Economics As A Science

Ver Resposta

Pergunta 8 Relatório

Which of the following is a determinant of elasticity of supply?

Consumer’s income

Degree of necessities

Durability of the product Resposta correta

Number of uses of the commodity

Proportion of income spent on the product

Detalhes da Resposta

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

Ler a nota de aula em Supply (WAEC)

The Theory Of Supply

Supply

Ver Resposta

Pergunta 9 Relatório

Which of the following is a function of the central bank?

Accepting deposits from the public

Agent of payment for individuals

Discounting bills of exchange

Issuing of currency Resposta correta

Provision of short term housing loans

Detalhes da Resposta

Ler a nota de aula em Public Finance (JAMB)

Ler a nota de aula em Banking (JAMB)

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

Public Finance

Banking

The Theory Of Price Determination

Ver Resposta

Pergunta 10 Relatório

Data presented in tables are usually arranged in ………… and …………

charts, tables

, graphs, rows

pictograms, columns

rows, columns Resposta correta

Detalhes da Resposta

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

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

Methods And Tools Of Economic Analysis

Basic Tools Of Economic Analysis

Ver Resposta

Pergunta 11 Relatório

The first National development plan period was from

1955-1959

1962-1968 Resposta correta

1965-1970

1970-1974

1975-1980

Detalhes da Resposta

Ler a nota de aula em National Income (WAEC)

National Income

Ver Resposta

Pergunta 12 Relatório

The demand for salt is …………

Elastic

Inelastic Resposta correta

Unitary elastic

both a and b

Detalhes da Resposta

Ler a nota de aula em Demand (WAEC)

Demand

Ver Resposta

Pergunta 13 Relatório

A firm is said to be a public joint-stock company when it

has unlimited liability

is administered by the public

is owned by the government

operates as a public corporation

sells its shares to members of the public Resposta correta

Detalhes da Resposta

Ler a nota de aula em Business Organizations (WAEC)

Business Organizations

Ver Resposta

Pergunta 14 Relatório

The concentration of firms in one area is referred to as of ……………. industries.

location

localization Resposta correta

multiplication

proliferation

pluralization

Detalhes da Resposta

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Pergunta 15 Relatório

When the demand for foreign exchange exceeds its supply, the value of the domestic currency

appreciates

depreciates Resposta correta

expands

Increases

inflates

Detalhes da Resposta

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

Ler a nota de aula em Supply (WAEC)

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

Definition And Scope Of Economics

Supply

Economics As A Science

Ver Resposta

Pergunta 16 Relatório

The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the

ECOWAS

IMF

OPEC Resposta correta

NNPC

none

Detalhes da Resposta

Ler a nota de aula em International Trade (JAMB)

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

International Trade

Petroleum And The Nigerian Economy

Ver Resposta

Pergunta 17 Relatório

The mean of the following scores

30, 32, 34, 36, 38, 40 and 42

What is the mean deviation?

4.21

3.24

3.42 Resposta correta

4.54

Detalhes da Resposta

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

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

Methods And Tools Of Economic Analysis

Basic Tools Of Economic Analysis

Ver Resposta

Pergunta 18 Relatório

The correct relationship between income (Y), consumption (C) and savings (S) is

C = Y + S

S = Y + C

S = Y + S

Y = C + S Resposta correta

Y = C – S

Detalhes da Resposta

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

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

Methods And Tools Of Economic Analysis

Theory Of Costs

Ver Resposta

Pergunta 19 Relatório

In a given set of data, if the variance is 25, what is the standard deviation?

5 Resposta correta

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 20 Relatório

Average total cost can be expressed as

average fixed cost plus average variable cost

change in total cost divided by change in output

total cost divided by total output Resposta correta

total fixed cost plus total variable cost

total variable cost divided by total output

Detalhes da Resposta

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

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

Theory Of Costs

Theory Of Production

Ver Resposta

Pergunta 21 Relatório

Using Expenditure Approach to estimate National Income, Y is equal to

C + l + G + X – M + P - V

C + l + G + X – M + P

C + l + G – X + P

C – 1 + G + X – M + P Resposta correta

C + l – G + X – M – P

Detalhes da Resposta

Ler a nota de aula em National Income (WAEC)

National Income

Ver Resposta

Pergunta 22 Relatório

A monopolist is a

duopolist

group of producers of related goods

partnership business that produces a commodity with high demand

single producer or seller of a commodity at cheap rate

single producer or seller of a commodity that has no close substitute Resposta correta

Detalhes da Resposta

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

Ler a nota de aula em Market Structure (JAMB)

Theory Of Price Determination

Market Structure

Ver Resposta

Pergunta 23 Relatório

A major feature of capitalism is

collective ownership of means of production

competition Resposta correta

equality or egalitarianism

redistribution of income

socialization and welfare

Detalhes da Resposta

Ler a nota de aula em Market Structure (JAMB)

Ler a nota de aula em Economic Systems (JAMB)

Market Structure

Economic Systems

Ver Resposta

Pergunta 24 Relatório

The following are the differences between domestic and international trade EXCEPT

cultural differences

currency

land Resposta correta

language

laws

Detalhes da Resposta

Ler a nota de aula em International Trade (JAMB)

International Trade

Ver Resposta

Pergunta 25 Relatório

Production is best defined in economics as

creation of utility yielding goods and services Resposta correta

distribution of goods and services

manufacturing of goods by small factories

provision of basic amenities

rendering of services only

Detalhes da Resposta

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

Theory Of Production

Ver Resposta

Pergunta 26 Relatório

Time deposit is the same thing as

bank rate

current account

demand deposited

fixed deposit Resposta correta

saving account

Detalhes da Resposta

Ler a nota de aula em Banking (JAMB)

Banking

Ver Resposta

Pergunta 27 Relatório

Oil was first discovered in commercial quantity in ……….. State.

Amasoma, Bayelsa

Bonny, Rivers

Oloibiri, Rivers Resposta correta

Igbokoda, Ondo

Warri, Delta

Detalhes da Resposta

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

Petroleum And The Nigerian Economy

Ver Resposta

Pergunta 28 Relatório

Disguised unemployment is the same thing as

residual unemployment

seasonal unemployment

structural unemployment

under-employment Resposta correta

voluntary unemployment

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 29 Relatório

Which of the following hinder(s) effective distribution of goods in Nigeria?

Branding and packaging of goods

Good transportation network

Large quantity of goods

numerous middlemen Resposta correta

Warehousing facilities

Detalhes da Resposta

Ler a nota de aula em Agriculture (WAEC)

Ler a nota de aula em Distributive Trade (WAEC)

Agriculture

Distributive Trade

Ver Resposta

Pergunta 30 Relatório

The following are qualities of money EXCEPT

acceptability

divisibility

homogeneity

portability

rationality Resposta correta

Detalhes da Resposta

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

Money And Inflation

Ver Resposta

Pergunta 31 Relatório

When the value of a country’s export exceeds her imports, there will be a

deficit current account

excess visible imports only

favorable balance of trade Resposta correta

favourable capital account

surplus current account

Detalhes da Resposta

Ler a nota de aula em National Income (WAEC)

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

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

National Income

International Economic Organizations

International Trade And Balance Of Payments

Ver Resposta

Pergunta 32 Relatório

Which of the following is a form of business enterprise?

Cartel

Entrepreneurship

Partnership Resposta correta

Stock exchange

Supermarket

Detalhes da Resposta

Ler a nota de aula em Business Organizations (WAEC)

Business Organizations

Ver Resposta

Pergunta 33 Relatório

Inflation is a …………….

general increase in the price of a single product

period of economic recession

period of hunger

period of excessive money

persistent rise in the general price level Resposta correta

Detalhes da Resposta

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

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

Money And Inflation

The Theory Of Consumer Behaviour

Ver Resposta

Pergunta 34 Relatório

Which of the following is NOT an advantage of tabular presentation of data?

Enables easy location of required figures

Helps to calculate derived quantities

Makes for easy comparison of figures

Occupies more space than mathematical equation Resposta correta

Shows whether the figures are increasing or decreasing

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 35 Relatório

The purchasing power of the Naira will fall when

worker are retrenched

the colour of the Naira is changed

the military take over

there is inflation Resposta correta

none

Detalhes da Resposta

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

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

Money And Inflation

The Theory Of Consumer Behaviour

Ver Resposta

Pergunta 36 Relatório

The process of building up country’s capacity to process raw materials for the production of goods is known as

firm

industry

industrialization Resposta correta

location of industry

localization

Detalhes da Resposta

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

Industry And Industrialization

Ver Resposta

Pergunta 37 Relatório

The additional satisfaction derived from the consumption of one more unit of a good is called

marginal cost

marginal product

marginal revenue

marginal utility Resposta correta

total Utility

Detalhes da Resposta

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

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

Theory Of Consumer Behaviour

The Theory Of Demand

Ver Resposta

Pergunta 38 Relatório

The growth of a country’s population is affected by

military might of the country

number of births per thousand of the population Resposta correta

number of people willing to be counted

the amount of money in circulation

the number of men in the population

Detalhes da Resposta

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

Ler a nota de aula em Population (JAMB)

Population And Labour Market

Population

Ver Resposta

Pergunta 39 Relatório

Through membership of the Economic Community of West African States (ECOWAS) countries have achieved

a large market for their products Resposta correta

emancipation of Africa

full employment of resources

higher transportation cost of goods within the region

military superiority over other African countries

Detalhes da Resposta

Ver Resposta

Pergunta 40 Relatório

Price elasticity of supply measures the responsiveness of quantity supplied to

a change in the demand for the product V

a change in the price of the commodity Resposta correta

changes in consumers

changes in prices of other commodities

changes in suppliers income

Detalhes da Resposta

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

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

The Theory Of Supply

Theory Of Price Determination

Ver Resposta

Pergunta 41 Relatório

Entrepreneur is associated more with

capital management

production of beverage

profit making

profit sharing

risk bearing Resposta correta

Detalhes da Resposta

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

Ler a nota de aula em Business Organizations (JAMB)

Factors Of Production And Their Theories

Business Organizations

Ver Resposta

Pergunta 42 Relatório

The International Monetary Fund (IMF) was set up mainly to

cater for financial needs of developed countries

create conditions favourable for the growth of world trade Resposta correta

create favourable balance of payment

develop domestic trade

offset foreign debts only

Detalhes da Resposta

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

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

International Economic Organizations

Ver Resposta

Pergunta 43 Relatório

Labour force simply means the

demand and supply of labour

efficiency of labour

job seekers

unemployable population

working population Resposta correta

Detalhes da Resposta

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

Population And Labour Market

Ver Resposta

Pergunta 44 Relatório

A production possibility curve shows the

resources used to produce a particular commodity

possible combinations of two commodities Resposta correta

rate of inflation

rate of unemployment in the country

tabular illustration of production possibilities

Detalhes da Resposta

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

Ler a nota de aula em Market Structures (WAEC)

Theory Of Production

Market Structures

Ver Resposta

Pergunta 45 Relatório

One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it

creates ecological problems

creates political unrest

creates uncertainties in government revenues

is a major foreign exchange earner Resposta correta

suppresses agricultural development

Detalhes da Resposta

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

Petroleum And The Nigerian Economy

Ver Resposta

Pergunta 46 Relatório

The concept of choice in Economics refers to

a decision between one thing and another

ranking of wants in an ascending order

selection of most pressing wants out of a range of alternatives Resposta correta

ranking of wants on a table of preference

separating defective commodities from non-defective ones

Detalhes da Resposta

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

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

The Theory Of Demand

Economics As A Science

Ver Resposta

Pergunta 47 Relatório

Which of these factors causes a change in the quantity demanded of a commodity?

Income

Population

Price of other commodities

Price of the commodity concerned Resposta correta

Taste and fashion

Detalhes da Resposta

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

Ler a nota de aula em Demand (WAEC)

The Theory Of Demand

Demand

Ver Resposta

Pergunta 48 Relatório

The amount of satisfaction per unit of the commodity consumed is called

average cost

average utility Resposta correta

marginal cost

marginal utility

total utility

Detalhes da Resposta

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

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

The Theory Of Consumer Behaviour

The Theory Of Demand

Ver Resposta






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