NECO SSCE - Economics - 2003

For a monopolist, the demand curve is

In a free market economy, wages are determined by

What is meant by utility?

Which of the following is NOT a reason for the absence of an industry in the rural areas?

Which of the following is NOT a function of taxation?

Which of the following is true of a perfect market situation?

Efficiency of labour implies

One of the following is NOT a reason for increase in public expenditure

The aim of indigenization policy was to

The professional that view cost in term of alternatives sacrificed is the

Which of the following is a characteristic of private enterprises?

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

Total revenue can be obtained by multiplying

Equilibrium prices is

Which of the following is a motive for holding money?

The most generally accepted definition of economics is

An economy is described as spend-rift if it

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

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

Minimum price control is aimed at

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

Which of these is NOT a basic economic problem of society?

Economic growth is the

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

The theory of income determination is traced to

The first commercial oil well in Nigeria was discovered in

Which of the following is NOT a sources of national income statistics?

The best way of presenting data in tabular form is in

ECOWAS Visa lasts for

Which of the following is NOT an internal dis-economy of scales?

An economic system where both the public and individuals own and control means of production is known as ……… system

Using functional relationship in economics QX = f (px, po, y, T); po stand for

Central bank of Nigerian started operation

Averages cost (AC) equal to

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

In economics, electricity, water supply, communication networks, road, etc are known as

Which of the following is NOT a cause of inflation?

Which of the following is NOT a factor determining supply?

Price legislation means

In the equation MV = PT; V stand for

The per capita income is calculated as

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

Which of the following is NOT a component of agriculture?

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

The central point of the Malthusian theory is that

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

In calculating mean one should

A problem of price control is

Data presented in a circular chart is known as

To finance a deficit balance of payment, a country may decide to