NECO SSCE - Economics - 2009

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

Maelezo ya Majibu

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

Maelezo ya Majibu

The mean of the following scores

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

What is the mean deviation?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

Average total cost can be expressed as

Maelezo ya Majibu

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

Maelezo ya Majibu

Taxes levied on locally manufactured goods are called

Maelezo ya Majibu

A monopolist is a

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

The first National development plan period was from

Maelezo ya Majibu

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

Maelezo ya Majibu

The value of money is affected by

Maelezo ya Majibu

Price elasticity of supply measures the responsiveness of quantity supplied to

Maelezo ya Majibu

Labour force simply means the

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

The following are the differences between domestic and international trade EXCEPT

Maelezo ya Majibu

The growth of a country’s population is affected by

Maelezo ya Majibu

Disguised unemployment is the same thing as

Maelezo ya Majibu

Inflation is a …………….

Maelezo ya Majibu

Economic growth can be defined as

Maelezo ya Majibu

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

Maelezo ya Majibu

Entrepreneur is associated more with

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

The purchasing power of the Naira will fall when

Maelezo ya Majibu

Time deposit is the same thing as

Maelezo ya Majibu

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

Maelezo ya Majibu

The demand for salt is …………

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

A production possibility curve shows the

Maelezo ya Majibu

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

Maelezo ya Majibu

Which of the following is a form of business enterprise?

Maelezo ya Majibu

A major feature of capitalism is

Maelezo ya Majibu

These are the objectives of industrial strategies in Nigeria EXCEPT

Maelezo ya Majibu

The following are qualities of money EXCEPT

Maelezo ya Majibu

Production is best defined in economics as

Maelezo ya Majibu

The concept of choice in Economics refers to

Maelezo ya Majibu