NECO SSCE - Economics - 2005 (Objective)

Swali 1 Ripoti

The formular (N + 1)/2 is used to determine the

mean

median Jibu sahihi

mode

standard deviation

mean deviation

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Demand (JAMB)

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

The Theory Of Demand

Economics As A Science

Tazama Jibu

Swali 2 Ripoti

If the standard deviation of a set of numbers is 3.6, what is the variance?

12.49

12.69

12.9

12.96 Jibu sahihi

12.98

Maelezo ya Majibu

Soma maelezo ya somo kwenye Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Tazama Jibu

Swali 3 Ripoti

ECOWAS secretariat is located in

Abuja, Nigeria Jibu sahihi

Accra, Ghana

Conakry, Guinea

Freetown, Sierra Leone

Monrovia, Liberia V

Maelezo ya Majibu

Soma maelezo ya somo kwenye International Economic Organizations (JAMB)

International Economic Organizations

Tazama Jibu

Swali 4 Ripoti

The following are the objectives of agricultural policies in Nigeria EXCEPT

provision of food

provision of agricultural raw materials to industrial sectors

increasing prices of agricultural Inputs Jibu sahihi

creation of rural employment

Maelezo ya Majibu

Soma maelezo ya somo kwenye Agriculture (WAEC)

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

Agriculture

Money And Inflation

Tazama Jibu

Swali 5 Ripoti

At the equilibrium price,

demand is greater than supply

demand equates supply Jibu sahihi

demand is less than supply

price is equal to demand only

price is equal to supply only

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Price Determination (JAMB)

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

The Theory Of Price Determination

Economics As A Science

Tazama Jibu

Swali 6 Ripoti

Which of the following is NOT associated with minimum price legislation?

Black market

Excess demand Jibu sahihi

Excess supply

Unattainable equilibrium

Unemployment

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Price Determination (JAMB)

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

Soma maelezo ya somo kwenye Economic Systems (JAMB)

The Theory Of Price Determination

Economics As A Science

Economic Systems

Tazama Jibu

Swali 7 Ripoti

Which of the following is the correct order in the chain of distribution?

Consumer —> Distributor → Retailer → Producer

Producer → Consumer → Retailer → Wholesaler

Producer → Wholesaler → Retailer → Consumer Jibu sahihi

Retailer → Consumer → Producer → Wholesaler

Wholesaler → Retailer → Producer → Consume

Maelezo ya Majibu

Soma maelezo ya somo kwenye Distributive Trade (WAEC)

Distributive Trade

Tazama Jibu

Swali 8 Ripoti

The following are rewards for factors of production EXCEPT

interest

profit

rent

subsidy Jibu sahihi

wages

Maelezo ya Majibu

Soma maelezo ya somo kwenye Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

Tazama Jibu

Swali 9 Ripoti

Which of the following is NOT an objective of Economic planning?

Achieving economic self reliance

Achieving economic growth

Creating employment

Equitable allocation of resources

Widening the income gap Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Public Finance (WAEC)

Public Finance

Tazama Jibu

Swali 10 Ripoti

Which of the following is NOT a function of marketing boards in Nigeria?

Fixing of prices for farm produce

Grading of farm produce

Importation of farm produce Jibu sahihi

Marketing of farm produce

Price stabilization

Maelezo ya Majibu

Soma maelezo ya somo kwenye Industry And Industrialization (JAMB)

Industry And Industrialization

Tazama Jibu

Swali 11 Ripoti

A major characteristics of a firm operating at a long-run equilibrium position is that

all costs can be varied Jibu sahihi

average variable cost is fixed

fixed cost can not be changed

marginal cost is fixed

only variable cost changes

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Production (JAMB)

Soma maelezo ya somo kwenye Theory Of Costs (JAMB)

The Theory Of Production

Theory Of Costs

Tazama Jibu

Swali 12 Ripoti

Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?

Coordinating and unifying petroleum policies of member countries

Ensuring efficient and regular supply of oil to the two market

Raising the revenue of member countries from oil through price increase

Refining of petroleum products in member countries Jibu sahihi

Stabilizing oil prices putting a production ceiling

Maelezo ya Majibu

Soma maelezo ya somo kwenye Petroleum And The Nigerian Economy (JAMB)

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

Petroleum And The Nigerian Economy

Money And Inflation

Tazama Jibu

Swali 13 Ripoti

A business formation with a minimum of two and maximum of twenty persons is called

cooperative society

joint stock company

one man business

partnership Jibu sahihi

public corporation

Maelezo ya Majibu

Soma maelezo ya somo kwenye Business Organizations (WAEC)

Soma maelezo ya somo kwenye Market Structure (JAMB)

Business Organizations

Market Structure

Tazama Jibu

Swali 14 Ripoti

If the population of a school is 600 and 60% are In JSS, how many students are in SSS?

204

224

240 Jibu sahihi

244

248

Maelezo ya Majibu

Soma maelezo ya somo kwenye Population (JAMB)

Population

Tazama Jibu

Swali 15 Ripoti

The problem of “how to produce” in any economy is solved by

adopting the least cost method of production

combining capital and labour intensive methods of production Jibu sahihi

employing the services of a manager

using capital intensive method of production

using labour intensive method of production

Maelezo ya Majibu

Soma maelezo ya somo kwenye Theory Of Production (WAEC)

Soma maelezo ya somo kwenye Market Structures (WAEC)

Theory Of Production

Market Structures

Tazama Jibu

Swali 16 Ripoti

An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry.

construction

conversion

manufacturing Jibu sahihi

mining

processing

Maelezo ya Majibu

Soma maelezo ya somo kwenye Agriculture (WAEC)

Agriculture

Tazama Jibu

Swali 17 Ripoti

Which of the following is a disadvantage of localization of industries?

Aiding cooperation among firms

Creating structural unemployment Jibu sahihi

Encouraging subsidiary industries

Encouraging the growth of skilled labour

Reducing cost of production

Maelezo ya Majibu

Soma maelezo ya somo kwenye Market Structure (JAMB)

Market Structure

Tazama Jibu

Swali 18 Ripoti

When the total product starts falling, then the marginal product is

constant

increasing

maximum

negative Jibu sahihi

zero

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Production (JAMB)

Soma maelezo ya somo kwenye Theory Of Production (WAEC)

The Theory Of Production

Theory Of Production

Tazama Jibu

Swali 19 Ripoti

Which of the following is NOT included in-measuring the National income through the income approach?

Allowance given to an aged mother by a civil servant Jibu sahihi

Income earned by a bricklayer

Profit earned by Nigerian bottling company plc

profit earned by NITEL plc

Salary earned by a doctor

Maelezo ya Majibu

Soma maelezo ya somo kwenye National Income (WAEC)

National Income

Tazama Jibu

Swali 20 Ripoti

The demand for factors of production is said to be

competitive

complementary

composite

derived Jibu sahihi

joint

Maelezo ya Majibu

Soma maelezo ya somo kwenye Factors Of Production (WAEC)

Factors Of Production

Tazama Jibu

Swali 21 Ripoti

Persistent fail In the general price level Is known as

deflation Jibu sahihi

devaluation

general price Increase

inflation

price index

Maelezo ya Majibu

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

Soma maelezo ya somo kwenye Agriculture In Nigeria (JAMB)

Economics As A Science

Agriculture In Nigeria

Tazama Jibu

Swali 22 Ripoti

Production is said to be complete when goods and services gets to the

consumers Jibu sahihi

distributors

retailers

warehouses

wholesalers

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Production (JAMB)

Soma maelezo ya somo kwenye Business Organizations (JAMB)

The Theory Of Production

Business Organizations

Tazama Jibu

Swali 23 Ripoti

When an increase in the price of a commodity lead to a fall In the demand for aNOTher, the demand for the two commodities are said to be

abnormal

competitive

composite

derived

joint Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Theory Of Price Determination (WAEC)

Soma maelezo ya somo kwenye The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

Tazama Jibu

Swali 24 Ripoti

An economy in which decision of what to produce is taken partly by private individuals and state is referred to as Economy.

capitalist

communist

mixed Jibu sahihi

socialist

welfarist

Maelezo ya Majibu

Tazama Jibu

Swali 25 Ripoti

The 2nd National Development plan in Nigeria was between

1962 — 1968

1970 — 1974 Jibu sahihi

1975 — 1980

1980 — 1985

1985 — 1990

Maelezo ya Majibu

Soma maelezo ya somo kwenye National Income (WAEC)

Soma maelezo ya somo kwenye Economic Development And Planning (WAEC)

National Income

Economic Development And Planning

Tazama Jibu

Swali 26 Ripoti

The satisfaction derived from Die consumption of a commodity is referred o as

consumption

demand

production

utility Jibu sahihi

utilization

Maelezo ya Majibu

Soma maelezo ya somo kwenye Theory Of Consumer Behaviour (WAEC)

Theory Of Consumer Behaviour

Tazama Jibu

Swali 27 Ripoti

Range is NOT the best method of measuring dispersion because it considers only the

first number

first two numbers

frequently occurred number

middle number

two extreme number Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Tazama Jibu

Swali 28 Ripoti

Stock exchange market deals with

exchange of commodities

exchange of stock fish for stock

exchange of treasury bills

sales of foreign exchange

sales of second hand securities Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Supply (WAEC)

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

Supply

Economics As A Science

Tazama Jibu

Swali 29 Ripoti

If two bags of rice were sold for N1,250 a mouth ago and two weeks later, the same amount was used to procure one bag. This simply means that the value of money is

constant

decreasing Jibu sahihi

fluctuating

increasing

proportional

Maelezo ya Majibu

Soma maelezo ya somo kwenye Money And Inflation (WAEC)

Soma maelezo ya somo kwenye The Theory Of Consumer Behaviour (JAMB)

Money And Inflation

The Theory Of Consumer Behaviour

Tazama Jibu

Swali 30 Ripoti

The following can be used to improve a country’s balance of payment EXCEPT

anti-dumping policies

decreasing taxation on personal income Jibu sahihi

granting subsidies to export producers

increasing import duties

removing export duties

Maelezo ya Majibu

Soma maelezo ya somo kwenye International Trade (JAMB)

Soma maelezo ya somo kwenye Theory Of Price Determination (WAEC)

Soma maelezo ya somo kwenye Economic Integration (WAEC)

Soma maelezo ya somo kwenye Supply (WAEC)

Soma maelezo ya somo kwenye International Trade And Balance Of Payments (WAEC)

International Trade

Theory Of Price Determination

Economic Integration

Supply

International Trade And Balance Of Payments

Tazama Jibu

Swali 31 Ripoti

The following determine the level of consumption EXCEPT

expectation of price changes

level of income

savings

the rate of taxes paid

the political climate Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Theory Of Consumer Behaviour (WAEC)

Soma maelezo ya somo kwenye Theory Of Production (WAEC)

Soma maelezo ya somo kwenye The Theory Of Demand (JAMB)

Theory Of Consumer Behaviour

Theory Of Production

The Theory Of Demand

Tazama Jibu

Swali 32 Ripoti

Which of the following is NOT a function of the IMF?

assisting member countries in printing and issuing their currency Jibu sahihi

Exchange rate stabilization

Promoting international monetary cooperation

Providing financial aid to members experiencing balance of payment difficulties

Serving as a clearing house f member countries

Maelezo ya Majibu

Soma maelezo ya somo kwenye International Economic Organizations (WAEC)

International Economic Organizations

Tazama Jibu

Swali 33 Ripoti

Which of the following will NOT bring about an increase in Labour force?

Better medical services

Decrease in death rate

Emigration Jibu sahihi

Immigration

Increase in birth rate

Maelezo ya Majibu

Soma maelezo ya somo kwenye Population And Labour Market (WAEC)

Soma maelezo ya somo kwenye Population (JAMB)

Population And Labour Market

Population

Tazama Jibu

Swali 34 Ripoti

The following are problems of development planning in Nigeria EXCEPT

death of skilled manpower

inadequate capital

inadequate statistical data

poor implementation of economic planning

under-population Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Public Finance (WAEC)

Soma maelezo ya somo kwenye Economic Development And Planning (WAEC)

Public Finance

Economic Development And Planning

Tazama Jibu

Swali 35 Ripoti

The system of farming which involves the use of a large hectare of land planted with economic crops is known as

cooperative farming

mechanized farming Jibu sahihi

peasant farming

plantation farming

tree planting

Maelezo ya Majibu

Soma maelezo ya somo kwenye Agriculture (WAEC)

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

Agriculture

Money And Inflation

Tazama Jibu

Swali 36 Ripoti

The recent revolution of Cassava from ordinary food crop to export crop will lead to

decrease in price of cassava flour

decrease In production of cassava

decrease In production of local starch

increase In production of other crops

increase in the prices of cassava products Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye International Economic Organizations (JAMB)

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

International Economic Organizations

Money And Inflation

Tazama Jibu

Swali 37 Ripoti

Economic problem arises as a result of

choice

money cost

opportunity cost

scarcity Jibu sahihi

scale of preference

Maelezo ya Majibu

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

Economics As A Science

Tazama Jibu

Swali 38 Ripoti

The trade-off between two commodities along the Production Possibility Curve (PPC) shows

opportunity cost principle

scarcity principle

transferable output

unattainable combination Jibu sahihi

under utilization of resources

Maelezo ya Majibu

Soma maelezo ya somo kwenye International Trade (JAMB)

Soma maelezo ya somo kwenye The Theory Of Production (JAMB)

International Trade

The Theory Of Production

Tazama Jibu

Swali 39 Ripoti

The following will occur when maximum price is fixed below the free market price EXCEPT that

black market will be encouraged

excess demand will occur

excess supply will occur Jibu sahihi

rationing of commodities will occur

scarcity of goods will occur

Maelezo ya Majibu

Soma maelezo ya somo kwenye Methods And Tools Of Economic Analysis (JAMB)

Soma maelezo ya somo kwenye The Theory Of Supply (JAMB)

Soma maelezo ya somo kwenye The Theory Of Price Determination (JAMB)

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Supply

The Theory Of Price Determination

Economics As A Science

Tazama Jibu

Swali 40 Ripoti

Which of the following is NOT a positive contribution a petroleum to Nigeria economy?

Development of bat infrastructures

Increase in National income

Major employer of labour

Major foreign exchange earned

Turning the nation to mono-product economy Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

Tazama Jibu

Swali 41 Ripoti

In the equation Q = a - bp + e; Q and P are .... Variables respectively.

constant and dependent

dependent and independent

error term and independent

independent and constant

independent and dependent Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Production (JAMB)

Soma maelezo ya somo kwenye Theory Of Price Determination (WAEC)

The Theory Of Production

Theory Of Price Determination

Tazama Jibu

Swali 42 Ripoti

The variance of a given set of numbers is defined as the

absolute value of the standard deviation

square of the standard deviation Jibu sahihi

square root of the standard deviation

square of the mean deviation

square root of the mean deviation

Maelezo ya Majibu

Soma maelezo ya somo kwenye Methods And Tools Of Economic Analysis (JAMB)

Soma maelezo ya somo kwenye The Theory Of Demand (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Demand

Tazama Jibu

Swali 43 Ripoti

The use of tax and expenditure policy to regulate the economy is known as

deregulation

fiscal policy Jibu sahihi

monetary policy

physical measures

structural adjustment

Maelezo ya Majibu

Soma maelezo ya somo kwenye Public Finance (JAMB)

Public Finance

Tazama Jibu

Swali 44 Ripoti

An industry operating in a perfect competitive market situation will maximum profit when

DD = SS

DD < SS

MC > AC

MC < AR

MC = MR Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Supply (JAMB)

Soma maelezo ya somo kwenye The Theory Of Demand (JAMB)

Soma maelezo ya somo kwenye The Theory Of Price Determination (JAMB)

Soma maelezo ya somo kwenye Economics As A Science (JAMB)

The Theory Of Supply

The Theory Of Demand

The Theory Of Price Determination

Economics As A Science

Tazama Jibu

Swali 45 Ripoti

Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds

as much to TR as to TC

less to TR as to TC

less to TC than to TR

more to TC than to TR

more to TR than to T Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye The Theory Of Production (JAMB)

The Theory Of Production

Tazama Jibu






Bonyeza na Ushikilie kuvuta kuzunguka
Bonyeza Hapa Kufunga