NECO SSCE - Economics - 2005 (Objective)

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 Ìdáhùn tó tọ́

fluctuating

increasing

proportional

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Money And Inflation (WAEC)

Ka ìwé ẹ̀kọ́ nípa The Theory Of Consumer Behaviour (JAMB)

Money And Inflation

The Theory Of Consumer Behaviour

Wo Idahun

Ibeere 19 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Wo Idahun

Ibeere 20 Ìròyìn

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

construction

conversion

manufacturing Ìdáhùn tó tọ́

mining

processing

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Agriculture (WAEC)

Agriculture

Wo Idahun

Ibeere 21 Ìròyìn

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 Ìdáhùn tó tọ́

socialist

welfarist

Awọn alaye Idahun

Wo Idahun

Ibeere 22 Ìròyìn

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

Aiding cooperation among firms

Creating structural unemployment Ìdáhùn tó tọ́

Encouraging subsidiary industries

Encouraging the growth of skilled labour

Reducing cost of production

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Market Structure (JAMB)

Market Structure

Wo Idahun

Ibeere 23 Ìròyìn

The demand for factors of production is said to be

competitive

complementary

composite

derived Ìdáhùn tó tọ́

joint

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Factors Of Production (WAEC)

Factors Of Production

Wo Idahun

Ibeere 24 Ìròyìn

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 Ìdáhùn tó tọ́

rationing of commodities will occur

scarcity of goods will occur

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Methods And Tools Of Economic Analysis (JAMB)

Ka ìwé ẹ̀kọ́ nípa The Theory Of Supply (JAMB)

Ka ìwé ẹ̀kọ́ nípa The Theory Of Price Determination (JAMB)

Ka ìwé ẹ̀kọ́ nípa Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Supply

The Theory Of Price Determination

Economics As A Science

Wo Idahun

Ibeere 25 Ìròyìn

The following determine the level of consumption EXCEPT

expectation of price changes

level of income

savings

the rate of taxes paid

the political climate Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Theory Of Consumer Behaviour (WAEC)

Ka ìwé ẹ̀kọ́ nípa Theory Of Production (WAEC)

Ka ìwé ẹ̀kọ́ nípa The Theory Of Demand (JAMB)

Theory Of Consumer Behaviour

Theory Of Production

The Theory Of Demand

Wo Idahun

Ibeere 26 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa International Economic Organizations (JAMB)

Ka ìwé ẹ̀kọ́ nípa Money And Inflation (JAMB)

International Economic Organizations

Money And Inflation

Wo Idahun

Ibeere 27 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

Wo Idahun

Ibeere 28 Ìròyìn

At the equilibrium price,

demand is greater than supply

demand equates supply Ìdáhùn tó tọ́

demand is less than supply

price is equal to demand only

price is equal to supply only

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa The Theory Of Price Determination (JAMB)

Ka ìwé ẹ̀kọ́ nípa Economics As A Science (JAMB)

The Theory Of Price Determination

Economics As A Science

Wo Idahun

Ibeere 29 Ìròyìn

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 Ìdáhùn tó tọ́

creation of rural employment

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Agriculture (WAEC)

Ka ìwé ẹ̀kọ́ nípa Money And Inflation (JAMB)

Agriculture

Money And Inflation

Wo Idahun

Ibeere 30 Ìròyìn

Economic problem arises as a result of

choice

money cost

opportunity cost

scarcity Ìdáhùn tó tọ́

scale of preference

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Economics As A Science (JAMB)

Economics As A Science

Wo Idahun

Ibeere 31 Ìròyìn

The following are rewards for factors of production EXCEPT

interest

profit

rent

subsidy Ìdáhùn tó tọ́

wages

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

Wo Idahun

Ibeere 32 Ìròyìn

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 Ìdáhùn tó tọ́

Income earned by a bricklayer

Profit earned by Nigerian bottling company plc

profit earned by NITEL plc

Salary earned by a doctor

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa National Income (WAEC)

National Income

Wo Idahun

Ibeere 33 Ìròyìn

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

Better medical services

Decrease in death rate

Emigration Ìdáhùn tó tọ́

Immigration

Increase in birth rate

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Population And Labour Market (WAEC)

Ka ìwé ẹ̀kọ́ nípa Population (JAMB)

Population And Labour Market

Population

Wo Idahun

Ibeere 34 Ìròyìn

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

12.49

12.69

12.9

12.96 Ìdáhùn tó tọ́

12.98

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Wo Idahun

Ibeere 35 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Public Finance (WAEC)

Ka ìwé ẹ̀kọ́ nípa Economic Development And Planning (WAEC)

Public Finance

Economic Development And Planning

Wo Idahun

Ibeere 36 Ìròyìn

ECOWAS secretariat is located in

Abuja, Nigeria Ìdáhùn tó tọ́

Accra, Ghana

Conakry, Guinea

Freetown, Sierra Leone

Monrovia, Liberia V

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa International Economic Organizations (JAMB)

International Economic Organizations

Wo Idahun

Ibeere 37 Ìròyìn

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

all costs can be varied Ìdáhùn tó tọ́

average variable cost is fixed

fixed cost can not be changed

marginal cost is fixed

only variable cost changes

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa The Theory Of Production (JAMB)

Ka ìwé ẹ̀kọ́ nípa Theory Of Costs (JAMB)

The Theory Of Production

Theory Of Costs

Wo Idahun

Ibeere 38 Ìròyìn

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

mean

median Ìdáhùn tó tọ́

mode

standard deviation

mean deviation

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa The Theory Of Demand (JAMB)

Ka ìwé ẹ̀kọ́ nípa Economics As A Science (JAMB)

The Theory Of Demand

Economics As A Science

Wo Idahun

Ibeere 39 Ìròyìn

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

204

224

240 Ìdáhùn tó tọ́

244

248

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Population (JAMB)

Population

Wo Idahun

Ibeere 40 Ìròyìn

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

consumers Ìdáhùn tó tọ́

distributors

retailers

warehouses

wholesalers

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa The Theory Of Production (JAMB)

Ka ìwé ẹ̀kọ́ nípa Business Organizations (JAMB)

The Theory Of Production

Business Organizations

Wo Idahun

Ibeere 41 Ìròyìn

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 Ìdáhùn tó tọ́

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Supply (WAEC)

Ka ìwé ẹ̀kọ́ nípa Economics As A Science (JAMB)

Supply

Economics As A Science

Wo Idahun

Ibeere 42 Ìròyìn

The 2nd National Development plan in Nigeria was between

1962 — 1968

1970 — 1974 Ìdáhùn tó tọ́

1975 — 1980

1980 — 1985

1985 — 1990

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa National Income (WAEC)

Ka ìwé ẹ̀kọ́ nípa Economic Development And Planning (WAEC)

National Income

Economic Development And Planning

Wo Idahun

Ibeere 43 Ìròyìn

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

consumption

demand

production

utility Ìdáhùn tó tọ́

utilization

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Theory Of Consumer Behaviour (WAEC)

Theory Of Consumer Behaviour

Wo Idahun

Ibeere 44 Ìròyìn

Persistent fail In the general price level Is known as

deflation Ìdáhùn tó tọ́

devaluation

general price Increase

inflation

price index

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa Economics As A Science (JAMB)

Ka ìwé ẹ̀kọ́ nípa Agriculture In Nigeria (JAMB)

Economics As A Science

Agriculture In Nigeria

Wo Idahun

Ibeere 45 Ìròyìn

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

assisting member countries in printing and issuing their currency Ìdáhùn tó tọ́

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

Awọn alaye Idahun

Ka ìwé ẹ̀kọ́ nípa International Economic Organizations (WAEC)

International Economic Organizations

Wo Idahun






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