NECO SSCE - Economics - 2003

The first commercial oil well in Nigeria was discovered in

The central point of the Malthusian theory is that

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

The best way of presenting data in tabular form is in

Efficiency of labour implies

In calculating mean one should

ECOWAS Visa lasts for

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

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

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

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

An economy is described as spend-rift if it

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

Minimum price control is aimed at

The theory of income determination is traced to

Equilibrium prices is

A problem of price control is

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

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

Economic growth is the

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

Data presented in a circular chart is known as

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

Price legislation means

In a free market economy, wages are determined by

Which of the following is NOT a function of taxation?

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

Central bank of Nigerian started operation

What is meant by utility?

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

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

The aim of indigenization policy was to

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

For a monopolist, the demand curve is

Which of the following is a motive for holding money?

The most generally accepted definition of economics is

Which of the following is a characteristic of private enterprises?

Which of the following is NOT a factor determining supply?

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

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

In the equation MV = PT; V stand for

The per capita income is calculated as

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

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

Total revenue can be obtained by multiplying

Which of the following is NOT a cause of inflation?

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

Averages cost (AC) equal to

Which of the following is NOT a component of agriculture?

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