NECO SSCE - Economics - 2005 | Green Bridge CBT

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

fluctuating

increasing

proportional

Detalhes da Resposta

Read lesson note on Money And Inflation (WAEC)

Read lesson note on The Theory Of Consumer Behaviour (JAMB)

Money And Inflation

The Theory Of Consumer Behaviour

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Pergunta 10 Relatório

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

consumption

demand

production

utility

utilization

Detalhes da Resposta

Read lesson note on Theory Of Consumer Behaviour (WAEC)

Theory Of Consumer Behaviour

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Pergunta 11 Relatório

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

cooperative farming

mechanized farming

peasant farming

plantation farming

tree planting

Detalhes da Resposta

Read lesson note on Agriculture (WAEC)

Read lesson note on Money And Inflation (JAMB)

Agriculture

Money And Inflation

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Pergunta 12 Relatório

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

consumers

distributors

retailers

warehouses

wholesalers

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Business Organizations (JAMB)

The Theory Of Production

Business Organizations

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Pergunta 13 Relatório

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

cooperative society

joint stock company

one man business

partnership

public corporation

Detalhes da Resposta

Read lesson note on Business Organizations (WAEC)

Read lesson note on Market Structure (JAMB)

Business Organizations

Market Structure

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Pergunta 14 Relatório

The 2nd National Development plan in Nigeria was between

1962 — 1968

1970 — 1974

1975 — 1980

1980 — 1985

1985 — 1990

Detalhes da Resposta

Read lesson note on National Income (WAEC)

Read lesson note on Economic Development And Planning (WAEC)

National Income

Economic Development And Planning

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Pergunta 15 Relatório

Economic problem arises as a result of

choice

money cost

opportunity cost

scarcity

scale of preference

Detalhes da Resposta

Read lesson note on Economics As A Science (JAMB)

Economics As A Science

Ver Resposta

Pergunta 16 Relatório

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

Coordinating and unifying petroleum policies of member countries

Ensuring efficient and regular supply of oil to the two market

Raising the revenue of member countries from oil through price increase

Refining of petroleum products in member countries

Stabilizing oil prices putting a production ceiling

Detalhes da Resposta

Read lesson note on Petroleum And The Nigerian Economy (JAMB)

Read lesson note on Money And Inflation (JAMB)

Petroleum And The Nigerian Economy

Money And Inflation

Ver Resposta

Pergunta 17 Relatório

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

Aiding cooperation among firms

Creating structural unemployment

Encouraging subsidiary industries

Encouraging the growth of skilled labour

Reducing cost of production

Detalhes da Resposta

Read lesson note on Market Structure (JAMB)

Market Structure

Ver Resposta

Pergunta 18 Relatório

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

absolute value of the standard deviation

square of the standard deviation

square root of the standard deviation

square of the mean deviation

square root of the mean deviation

Detalhes da Resposta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Read lesson note on The Theory Of Demand (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Demand

Ver Resposta

Pergunta 19 Relatório

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

12.49

12.69

12.9

12.96

12.98

Detalhes da Resposta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

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Pergunta 20 Relatório

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

Achieving economic self reliance

Achieving economic growth

Creating employment

Equitable allocation of resources

Widening the income gap

Detalhes da Resposta

Read lesson note on Public Finance (WAEC)

Public Finance

Ver Resposta

Pergunta 21 Relatório

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

Consumer —> Distributor → Retailer → Producer

Producer → Consumer → Retailer → Wholesaler

Producer → Wholesaler → Retailer → Consumer

Retailer → Consumer → Producer → Wholesaler

Wholesaler → Retailer → Producer → Consume

Detalhes da Resposta

Read lesson note on Distributive Trade (WAEC)

Distributive Trade

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Pergunta 22 Relatório

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

204

224

240

244

248

Detalhes da Resposta

Read lesson note on Population (JAMB)

Population

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Pergunta 23 Relatório

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

Better medical services

Decrease in death rate

Emigration

Immigration

Increase in birth rate

Detalhes da Resposta

Read lesson note on Population And Labour Market (WAEC)

Read lesson note on Population (JAMB)

Population And Labour Market

Population

Ver Resposta

Pergunta 24 Relatório

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

assisting member countries in printing and issuing their currency

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

Detalhes da Resposta

Read lesson note on International Economic Organizations (WAEC)

International Economic Organizations

Ver Resposta

Pergunta 25 Relatório

Persistent fail In the general price level Is known as

deflation

devaluation

general price Increase

inflation

price index

Detalhes da Resposta

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Agriculture In Nigeria (JAMB)

Economics As A Science

Agriculture In Nigeria

Ver Resposta

Pergunta 26 Relatório

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

Detalhes da Resposta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Methods And Tools Of Economic Analysis

Ver Resposta

Pergunta 27 Relatório

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

opportunity cost principle

scarcity principle

transferable output

unattainable combination

under utilization of resources

Detalhes da Resposta

Read lesson note on International Trade (JAMB)

Read lesson note on The Theory Of Production (JAMB)

International Trade

The Theory Of Production

Ver Resposta

Pergunta 28 Relatório

At the equilibrium price,

demand is greater than supply

demand equates supply

demand is less than supply

price is equal to demand only

price is equal to supply only

Detalhes da Resposta

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

The Theory Of Price Determination

Economics As A Science

Ver Resposta

Pergunta 29 Relatório

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

all costs can be varied

average variable cost is fixed

fixed cost can not be changed

marginal cost is fixed

only variable cost changes

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Theory Of Costs (JAMB)

The Theory Of Production

Theory Of Costs

Ver Resposta

Pergunta 30 Relatório

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

Detalhes da Resposta

Read lesson note on Petroleum And The Nigerian Economy (JAMB)

Petroleum And The Nigerian Economy

Ver Resposta

Pergunta 31 Relatório

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

deregulation

fiscal policy

monetary policy

physical measures

structural adjustment

Detalhes da Resposta

Read lesson note on Public Finance (JAMB)

Public Finance

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Pergunta 32 Relatório

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

Black market

Excess demand

Excess supply

Unattainable equilibrium

Unemployment

Detalhes da Resposta

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Economic Systems (JAMB)

The Theory Of Price Determination

Economics As A Science

Economic Systems

Ver Resposta

Pergunta 33 Relatório

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

Fixing of prices for farm produce

Grading of farm produce

Importation of farm produce

Marketing of farm produce

Price stabilization

Detalhes da Resposta

Read lesson note on Industry And Industrialization (JAMB)

Industry And Industrialization

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Pergunta 34 Relatório

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

socialist

welfarist

Detalhes da Resposta

Ver Resposta

Pergunta 35 Relatório

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

adopting the least cost method of production

combining capital and labour intensive methods of production

employing the services of a manager

using capital intensive method of production

using labour intensive method of production

Detalhes da Resposta

Read lesson note on Theory Of Production (WAEC)

Read lesson note on Market Structures (WAEC)

Theory Of Production

Market Structures

Ver Resposta

Pergunta 36 Relatório

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

creation of rural employment

Detalhes da Resposta

Read lesson note on Agriculture (WAEC)

Read lesson note on Money And Inflation (JAMB)

Agriculture

Money And Inflation

Ver Resposta

Pergunta 37 Relatório

ECOWAS secretariat is located in

Abuja, Nigeria

Accra, Ghana

Conakry, Guinea

Freetown, Sierra Leone

Monrovia, Liberia V

Detalhes da Resposta

Read lesson note on International Economic Organizations (JAMB)

International Economic Organizations

Ver Resposta

Pergunta 38 Relatório

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

rationing of commodities will occur

scarcity of goods will occur

Detalhes da Resposta

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)

Read lesson note on The Theory Of Supply (JAMB)

Read lesson note on The Theory Of Price Determination (JAMB)

Read lesson note on Economics As A Science (JAMB)

Methods And Tools Of Economic Analysis

The Theory Of Supply

The Theory Of Price Determination

Economics As A Science

Ver Resposta

Pergunta 39 Relatório

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

constant

increasing

maximum

negative

zero

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Theory Of Production (WAEC)

The Theory Of Production

Theory Of Production

Ver Resposta

Pergunta 40 Relatório

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

Detalhes da Resposta

Read lesson note on International Economic Organizations (JAMB)

Read lesson note on Money And Inflation (JAMB)

International Economic Organizations

Money And Inflation

Ver Resposta

Pergunta 41 Relatório

The following determine the level of consumption EXCEPT

expectation of price changes

level of income

savings

the rate of taxes paid

the political climate

Detalhes da Resposta

Read lesson note on Theory Of Consumer Behaviour (WAEC)

Read lesson note on Theory Of Production (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Theory Of Consumer Behaviour

Theory Of Production

The Theory Of Demand

Ver Resposta

Pergunta 42 Relatório

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

mean

median

mode

standard deviation

mean deviation

Detalhes da Resposta

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on Economics As A Science (JAMB)

The Theory Of Demand

Economics As A Science

Ver Resposta

Pergunta 43 Relatório

The following are rewards for factors of production EXCEPT

interest

profit

rent

subsidy

wages

Detalhes da Resposta

Read lesson note on Factors Of Production And Their Theories (JAMB)

Factors Of Production And Their Theories

Ver Resposta

Pergunta 44 Relatório

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

Detalhes da Resposta

Read lesson note on Supply (WAEC)

Read lesson note on Economics As A Science (JAMB)

Supply

Economics As A Science

Ver Resposta

Pergunta 45 Relatório

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

Detalhes da Resposta

Read lesson note on Public Finance (WAEC)

Read lesson note on Economic Development And Planning (WAEC)

Public Finance

Economic Development And Planning

Ver Resposta






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