NECO SSCE - Economics - 2005

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

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

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

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

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

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Economic problem arises as a result of

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

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

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

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

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

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

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

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The following are rewards for factors of production EXCEPT

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

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

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

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

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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

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

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

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

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

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

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

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Stock exchange market deals with

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

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

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ECOWAS secretariat is located in

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The following are the objectives of agricultural policies in Nigeria EXCEPT

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

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The 2nd National Development plan in Nigeria was between

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Persistent fail In the general price level Is known as

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

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The demand for factors of production is said to be

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

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

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

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

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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

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

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

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At the equilibrium price,

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The following determine the level of consumption EXCEPT

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The following are problems of development planning in Nigeria EXCEPT

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