NECO SSCE - Economics - 2007 (Objective)

Swali 1 Ripoti

If the price Index of export is 140% and import is 200%, what is

70 Jibu sahihi

100

140

280

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Economics As A Science

Economic Systems

Tazama Jibu

Swali 2 Ripoti

Which of the following is an advantage of free enterprise economy?

Allocates resources better

Avoids extreme Inequality of income

Full employment

It is very competent In providing vital social services Jibu sahihi

No need of employing a host of officials to allocate resources

Maelezo ya Majibu

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Economic Systems

Tazama Jibu

Swali 3 Ripoti

Which of the following is a condition necessary

Few sellers and buyers Jibu sahihi

Free entry and exist

Homogeneous goods

Lack of preferential treatment

Many callers and buyers

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Market Structure (JAMB)

Theory Of Consumer Behaviour

Market Structure

Tazama Jibu

Swali 4 Ripoti

If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is

balanced

deficit

restricted

surplus Jibu sahihi

Maelezo ya Majibu

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

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

International Trade And Balance Of Payments

Economic Development And Planning

Tazama Jibu

Swali 5 Ripoti

Which of the following is NOT an advantage of localization of industry?

Availability of social amenities

Development of subsidiary industries

Highly organized markets

supply of skilled labour

traffic De-congestion Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Business Organizations (WAEC)

Soma maelezo ya somo kwenye Distributive Trade (WAEC)

Soma maelezo ya somo kwenye Industry And Industrialization (JAMB)

Business Organizations

Distributive Trade

Industry And Industrialization

Tazama Jibu

Swali 6 Ripoti

The African Development Bank was set up in 1964 and has its headquarters in

Burkina Faso

Ivory Coast Jibu sahihi

Liberia

Niger Republic

Senegal

Maelezo ya Majibu

Soma maelezo ya somo kwenye International Economic Organizations (JAMB)

International Economic Organizations

Tazama Jibu

Swali 7 Ripoti

The difference between Gross National Income and Gross Domestic Product is known as

capital consumption

debt repayments

Investment abroad

net income from abroad Jibu sahihi

net saving

Maelezo ya Majibu

Soma maelezo ya somo kwenye National Income (WAEC)

National Income

Tazama Jibu

Swali 8 Ripoti

Economics is regarded as a social science because It

helps people to be acceptable In the society

Is associated with social dubs

is used by sociologist

studies human behavior Jibu sahihi

uses controlled experiment

Maelezo ya Majibu

Soma maelezo ya somo kwenye Definition And Scope Of Economics (WAEC)

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

Definition And Scope Of Economics

Economics As A Science

Tazama Jibu

Swali 9 Ripoti

A tax system in which the rich pay a higher percentage of income as tax than the poor is known as

capital gains tax

progressive taxation Jibu sahihi

proportional taxation

regressive taxation

sales tax

Maelezo ya Majibu

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

Economics As A Science

Tazama Jibu

Swali 10 Ripoti

Which of the following is NOT a feature of land?

Free gift of nature

Fixed in supply

Geographically immobile

Returns on land is wages Jibu sahihi

Subject to law of diminishing returns

Maelezo ya Majibu

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

Factors Of Production And Their Theories

Tazama Jibu

Swali 11 Ripoti

Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14

8 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 12 Ripoti

A change in National Income brought about by a given change in investment Is

APC

APS

MPC

MPS

The multiplier Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye National Income (WAEC)

National Income

Tazama Jibu

Swali 13 Ripoti

The following are bye-products of crude oil EXCEPT

bitumen

kerosene

paraffin wax

perfume Jibu sahihi

petrol

Maelezo ya Majibu

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

Petroleum And The Nigerian Economy

Tazama Jibu

Swali 14 Ripoti

The creation of physical and concrete goods that can be seen and handled Is

diminishing returns

division of labour

Industrialization

production Jibu sahihi

specialization

Maelezo ya Majibu

Soma maelezo ya somo kwenye Industrialization (WAEC)

Soma maelezo ya somo kwenye Agriculture (WAEC)

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

Soma maelezo ya somo kwenye Business Organizations (JAMB)

Soma maelezo ya somo kwenye Theory Of Production (WAEC)

Industrialization

Agriculture

The Theory Of Production

Business Organizations

Theory Of Production

Tazama Jibu

Swali 15 Ripoti

Branding and packaging of goods Is the function of

brokers

consumers

manufactures Jibu sahihi

retailers

wholesalers

Maelezo ya Majibu

Soma maelezo ya somo kwenye Business Organizations (JAMB)

Soma maelezo ya somo kwenye Distributive Trade (WAEC)

Soma maelezo ya somo kwenye Types And Basic Features Of Economic Systems (WAEC)

Business Organizations

Distributive Trade

Types And Basic Features Of Economic Systems

Tazama Jibu

Swali 16 Ripoti

Which of the following Is NOT a function of Merchant Bank

Helps public companies to issue new shares

Provision of medium and long-term loans

They accept bills of exchange

They guarantee the buying of shares Jibu sahihi

They implement government monetary policies

Maelezo ya Majibu

Soma maelezo ya somo kwenye Banking (JAMB)

Banking

Tazama Jibu

Swali 17 Ripoti

A comprehensive statement of Income and expenditure on international accounts for one financial year is called

balance of payments Jibu sahihi

balance of trade

budget

Index of trade

terms of trade

Maelezo ya Majibu

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

International Trade And Balance Of Payments

Tazama Jibu

Swali 18 Ripoti

The following are the objectives of economic planning EXCEPT

achieving balanced growth

diversification of the economy

creation of more employment opportunities

equitable allocation of resources

rapid population growth Jibu sahihi

Maelezo ya Majibu

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

Economic Development And Planning

Tazama Jibu

Swali 19 Ripoti

The following are types of monopolies EXCEPT

cartels

holding companies

syndicates

thrifts Jibu sahihi

trusts

Maelezo ya Majibu

Soma maelezo ya somo kwenye Market Structure (JAMB)

Market Structure

Tazama Jibu

Swali 20 Ripoti

which of the following measures can be used to control inflation?

decrease in bank rate

Decrease in taxation

deficit budget

Export drive Jibu sahihi

Increase in government expenditure

Maelezo ya Majibu

Soma maelezo ya somo kwenye Money And Inflation (WAEC)

Soma maelezo ya somo kwenye Public Finance (WAEC)

Soma maelezo ya somo kwenye Public Finance (JAMB)

Money And Inflation

Public Finance

Tazama Jibu

Swali 21 Ripoti

A deliberate government policy to exclude foreign participation in certain economic activity is known as

commercialization

indigenization Jibu sahihi

liberalization

localization

privatization

Maelezo ya Majibu

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Economic Systems

Tazama Jibu

Swali 22 Ripoti

Population density refers to

total population

the total population divided by the total area of land Jibu sahihi

the total area of land divided by the total population

the population ratio of male and female

optimum Population level

Maelezo ya Majibu

Tazama Jibu

Swali 23 Ripoti

Agricultural production in Nigeria could be improved through

control of plant diseases Jibu sahihi

Land Fragmentation

Payment of excise duty

the introduction of low yielding crops

the use of traditional implements

Maelezo ya Majibu

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

Soma maelezo ya somo kwenye Agriculture In Nigeria (JAMB)

Money And Inflation

Agriculture In Nigeria

Tazama Jibu

Swali 24 Ripoti

Which of the following is NOT a contribution of agriculture to industrial development?

provision of food for the industrial sector

Provision of funds for industrial development

Provision of raw materials

Supply of labour to the industrial sector

supply of machinery to the industrial sector Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Agriculture (WAEC)

Agriculture

Tazama Jibu

Swali 25 Ripoti

At the point where total utility begins to decline MU is

constant

decreasing

increasing

negative Jibu sahihi

zero

Maelezo ya Majibu

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

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

The Theory Of Consumer Behaviour

Economics As A Science

Tazama Jibu

Swali 26 Ripoti

Standard deviation can be determined by the square root of the

mean

mean deviation

mode

variance Jibu sahihi

variance divided by the mean

Maelezo ya Majibu

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

Methods And Tools Of Economic Analysis

Tazama Jibu

Swali 27 Ripoti

Which of the following goods are NOT examples of joint supply?

Beef and hides

fuel and kerosene

Palm oil and kernel

Tea and coffee Jibu sahihi

Wool and Mutton

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Economic Systems (JAMB)

The Theory Of Supply

Economic Systems

Tazama Jibu

Swali 28 Ripoti

In a solo proprietorship, decisions are made by the

board of directors

government

management

owner Jibu sahihi

shareholders

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Business Organizations (WAEC)

Soma maelezo ya somo kwenye Theory Of Costs (JAMB)

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

Soma maelezo ya somo kwenye Types And Basic Features Of Economic Systems (WAEC)

The Theory Of Supply

Business Organizations

Theory Of Costs

The Theory Of Consumer Behaviour

Types And Basic Features Of Economic Systems

Tazama Jibu

Swali 29 Ripoti

The equation MV PT is known as

demand and supply equation

equilibrium equation

equation of exchange

money supply equation Jibu sahihi

price index numbers

Maelezo ya Majibu

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

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

Methods And Tools Of Economic Analysis

Economics As A Science

Tazama Jibu

Swali 30 Ripoti

The first oil refinery in Nigeria was established at

Alesa Eleme

Araromi

Kaduna

Oloibiri Jibu sahihi

Warri

Maelezo ya Majibu

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

Petroleum And The Nigerian Economy

Tazama Jibu

Swali 31 Ripoti

Plantation farming can best be defined as cultivation of

crops using hoes and cutlasses for farming

food crops for personal consumption

food for use by the family

large scale farms of cash crops Jibu sahihi

livestock for commercial purposes

Maelezo ya Majibu

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

Money And Inflation

Tazama Jibu

Swali 32 Ripoti

If total Income is N15m and total consumption Is N3m. then the average propensity to consume is

0.2 Jibu sahihi

0.6

0.7

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Money And Inflation (JAMB)

Economics As A Science

Money And Inflation

Tazama Jibu

Swali 33 Ripoti

The difference between bar charts and histograms is that the former

are difference between bars adjoined to each other while the latter are separate bars divided Into sections

are line graphs while the latter are rectangular bars

are separate bars divided Into sections while the latter are line graphs

has bars adjoined to each other while the latter has separate bars

has bars separate from each other while the latter has bars adjoined to each other Jibu sahihi

Maelezo ya Majibu

Soma maelezo ya somo kwenye Basic Tools Of Economic Analysis (WAEC)

Basic Tools Of Economic Analysis

Tazama Jibu

Swali 34 Ripoti

The Industrial strategy of producing locally those goods that could have been imported is known as

balance growth

export promotion

import substitution Jibu sahihi

Industrialization

urbanization

Maelezo ya Majibu

Soma maelezo ya somo kwenye Industry And Industrialization (JAMB)

Industry And Industrialization

Tazama Jibu

Swali 35 Ripoti

Which of these is NOT a bottle neck In the distribution of goods In Nigeria?

Adequate transportation network Jibu sahihi

Inadequate credit facilities

Inadequate storage facilities

poor processing and packaging

Unnecessary hoarding

Maelezo ya Majibu

Soma maelezo ya somo kwenye Distributive Trade (WAEC)

Distributive Trade

Tazama Jibu

Swali 36 Ripoti

The following methods are used in calculation of National Income EXCEPT

depreciation Jibu sahihi

Expenditure

Income

Output

value added

Maelezo ya Majibu

Soma maelezo ya somo kwenye Industrialization (WAEC)

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

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

Soma maelezo ya somo kwenye National Income (WAEC)

Industrialization

Methods And Tools Of Economic Analysis

Factors Of Production And Their Theories

National Income

Tazama Jibu

Swali 37 Ripoti

Which of the following is a disadvantage of sole proprietorship?

Does not enjoy limited liability Jibu sahihi

Decisions are easily made and implemented

Easy to set up

Enjoys secrecy

Maintains dose relationship with workers and customers

Maelezo ya Majibu

Soma maelezo ya somo kwenye Agriculture (WAEC)

Soma maelezo ya somo kwenye Business Organizations (JAMB)

Soma maelezo ya somo kwenye Definition And Scope Of Economics (WAEC)

Agriculture

Business Organizations

Definition And Scope Of Economics

Tazama Jibu

Swali 38 Ripoti

Unemployment resulting from physical or mental deficiency is known as……………unemployment.

cyclical

disguised

Frictional

residual Jibu sahihi

Voluntary

Maelezo ya Majibu

Soma maelezo ya somo kwenye Agriculture (WAEC)

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

Agriculture

Population And Labour Market

Tazama Jibu

Swali 39 Ripoti

A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.

direct

indirect

progressive

proportional Jibu sahihi

regressive

Maelezo ya Majibu

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

Economics As A Science

Tazama Jibu

Swali 40 Ripoti

Goods that are useful, scarce and can command price are called …………. goods.

capital

consumer

economic Jibu sahihi

free

scarce

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Economics As A Science

Economic Systems

Tazama Jibu

Swali 41 Ripoti

The following countries are members of ECOWAS EXCEPT

Angola Jibu sahihi

Ghana

Ivory coast

Liberia

Niger Republic

Maelezo ya Majibu

Soma maelezo ya somo kwenye Economic Integration (WAEC)

Soma maelezo ya somo kwenye Financial Institutions (WAEC)

Economic Integration

Financial Institutions

Tazama Jibu

Swali 42 Ripoti

The solution to problem of how to produce in a capitalist economy is solved by

combining aid labour means of production

the producers involves Jibu sahihi

using capital Intensive method of production

using labour intensive method of production

using the method of production with the least cost

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Factors Of Production And Their Theories

Economic Systems

Tazama Jibu

Swali 43 Ripoti

The following measures used to check deflation EXCEPT

deficit financing

improving distribution system

increasing wages and salaries

raising the bank rate Jibu sahihi

reducing taxation

Maelezo ya Majibu

Soma maelezo ya somo kwenye Public Finance (JAMB)

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Public Finance

Economic Systems

Tazama Jibu

Swali 44 Ripoti

The theory of absolute advantage was propounded by

Adam Smith Jibu sahihi

David Ricardo

Irving Fisher

JB Kynes

Thomas Malthus

Maelezo ya Majibu

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

Soma maelezo ya somo kwenye Economic Systems (JAMB)

Economics As A Science

Economic Systems

Tazama Jibu

Swali 45 Ripoti

The function muv/muz = py/pz represents

consumer’s average utility level

diminishing marginal utility

increasing marginal utility

marginal theory of price

utility maximization 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 46 Ripoti

The following are advantages of standard deviation EXCEPT that it

has greater practical utility In sampling Jibu sahihi

is a good measure of dispersion since all the values are used in its calculation

is important and useful in the analysis of T- Test

is not a sound mathematical index

is the most popular measure of dispersion in distribution

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)

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

Methods And Tools Of Economic Analysis

The Theory Of Demand

The Theory Of Price Determination

Tazama Jibu






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