NECO SSCE - Economics - 2003

The central point of the Malthusian theory is that

What is meant by utility?

Efficiency of labour implies

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 the following is NOT a sources of national income statistics?

The theory of income determination is traced to

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

The best way of presenting data in tabular form is in

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

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

Equilibrium prices is

Minimum price control is aimed at

Which of the following is NOT a cause of inflation?

ECOWAS Visa lasts for

Data presented in a circular chart is known as

Economic growth is the

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

Averages cost (AC) equal to

In the equation MV = PT; V stand for

Which of the following is NOT a factor determining supply?

In a free market economy, wages are determined by

Price legislation means

Which of the following is NOT a function of taxation?

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

An economy is described as spend-rift if it

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

The first commercial oil well in Nigeria was discovered in

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

Which of the following is a motive for holding money?

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

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

A problem of price control is

Which of the following is NOT a component of agriculture?

The most generally accepted definition of economics is

In calculating mean one should

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

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

For a monopolist, the demand curve is

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

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

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

Total revenue can be obtained by multiplying

The aim of indigenization policy was to

The per capita income is calculated as

Which of the following is a characteristic of private enterprises?

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

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

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

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

Central bank of Nigerian started operation