NECO SSCE - Economics - 2003

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

Answer Details

ECOWAS Visa lasts for

Answer Details

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

Answer Details

The most generally accepted definition of economics is

Answer Details

Which of the following is NOT a factor determining supply?

Answer Details

Data presented in a circular chart is known as

Answer Details

For a monopolist, the demand curve is

Answer Details

The aim of indigenization policy was to

Answer Details

Minimum price control is aimed at

Answer Details

Economic growth is the

Answer Details

Central bank of Nigerian started operation

Answer Details

Averages cost (AC) equal to

Answer Details

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

Answer Details

The theory of income determination is traced to

Answer Details

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

Answer Details

Which of the following is a characteristic of private enterprises?

Answer Details

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

Answer Details

Which of the following is NOT a cause of inflation?

Answer Details

Equilibrium prices is

Answer Details

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

Answer Details

The first commercial oil well in Nigeria was discovered in

Answer Details

What is meant by utility?

Answer Details

The per capita income is calculated as

Answer Details

In calculating mean one should

Answer Details

The central point of the Malthusian theory is that

Answer Details

Total revenue can be obtained by multiplying

Answer Details

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

Answer Details

Which of the following is NOT a sources of national income statistics?

Answer Details

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

Answer Details

Which of the following is a motive for holding money?

Answer Details

The best way of presenting data in tabular form is in

Answer Details

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

Answer Details

Price legislation means

Answer Details

In a free market economy, wages are determined by

Answer Details

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

Answer Details

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

Answer Details

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

Answer Details

An economy is described as spend-rift if it

Answer Details

Which of the following is NOT a component of agriculture?

Answer Details

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

Answer Details

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

Answer Details

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

Answer Details

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

Answer Details

In the equation MV = PT; V stand for

Answer Details

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

Answer Details

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

Answer Details

Efficiency of labour implies

Answer Details

Which of the following is NOT a function of taxation?

Answer Details

A problem of price control is

Answer Details

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

Answer Details