NECO SSCE - Economics - 2005

The following are rewards for factors of production EXCEPT

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

The following determine the level of consumption EXCEPT

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

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

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

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

The 2nd National Development plan in Nigeria was between

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

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

The following are problems of development planning in Nigeria EXCEPT

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

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

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

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

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

Persistent fail In the general price level Is known as

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

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

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

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

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

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

The following are the objectives of agricultural policies in Nigeria EXCEPT

At the equilibrium price,

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

Stock exchange market deals with

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

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

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

ECOWAS secretariat is located in

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

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

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

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

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

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

The demand for factors of production is said to be

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

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

Economic problem arises as a result of

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

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

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

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