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 25 Relatório

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

as much to TR as to TC

less to TR as to TC

less to TC than to TR

more to TC than to TR

more to TR than to T

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

The Theory Of Production

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Pergunta 26 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

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Pergunta 27 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 28 Relatório

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

abnormal

competitive

composite

derived

joint

Detalhes da Resposta

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Theory Of Price Determination

The Theory Of Demand

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Pergunta 29 Relatório

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

anti-dumping policies

decreasing taxation on personal income

granting subsidies to export producers

increasing import duties

removing export duties

Detalhes da Resposta

Read lesson note on International Trade (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on Economic Integration (WAEC)

Read lesson note on Supply (WAEC)

Read lesson note on International Trade And Balance Of Payments (WAEC)

International Trade

Theory Of Price Determination

Economic Integration

Supply

International Trade And Balance Of Payments

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Pergunta 30 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

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Pergunta 31 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 32 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 33 Relatório

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

constant and dependent

dependent and independent

error term and independent

independent and constant

independent and dependent

Detalhes da Resposta

Read lesson note on The Theory Of Production (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

The Theory Of Production

Theory Of Price Determination

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Pergunta 34 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

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Pergunta 35 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

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Pergunta 36 Relatório

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

Income earned by a bricklayer

Profit earned by Nigerian bottling company plc

profit earned by NITEL plc

Salary earned by a doctor

Detalhes da Resposta

Read lesson note on National Income (WAEC)

National Income

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Pergunta 37 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 38 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 39 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

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Pergunta 40 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

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Pergunta 41 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 42 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

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Pergunta 43 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 44 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 45 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

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