NECO SSCE - Economics - 2007

If total Income is N15m and total consumption Is N3m. then the average propensity to consume is

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The creation of physical and concrete goods that can be seen and handled Is

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Which of the following is NOT a feature of land?

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Goods that are useful, scarce and can command price are called …………. goods.

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The first oil refinery in Nigeria was established at

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Which of the following is a condition necessary

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Agricultural production in Nigeria could be improved through

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The function muv/muz = py/pz represents

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At the point where total utility begins to decline MU is

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The difference between Gross National Income and Gross Domestic Product is known as

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The following are the objectives of economic planning EXCEPT

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A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.

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In a solo proprietorship, decisions are made by the

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The Industrial strategy of producing locally those goods that could have been imported is known as

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Branding and packaging of goods Is the function of

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The equation MV PT is known as

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A tax system in which the rich pay a higher percentage of income as tax than the poor is known as

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Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14

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The following countries are members of ECOWAS EXCEPT

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A change in National Income brought about by a given change in investment Is

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Unemployment resulting from physical or mental deficiency is known as……………unemployment.

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The African Development Bank was set up in 1964 and has its headquarters in

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If the price Index of export is 140% and import is 200%, what is

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If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is

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The following are advantages of standard deviation EXCEPT that it

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Standard deviation can be determined by the square root of the

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Which of the following is an advantage of free enterprise economy?

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which of the following measures can be used to control inflation?

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The following are types of monopolies EXCEPT

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Population density refers to

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Which of these is NOT a bottle neck In the distribution of goods In Nigeria?

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The difference between bar charts and histograms is that the former

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Which of the following is NOT a contribution of agriculture to industrial development?

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The following methods are used in calculation of National Income EXCEPT

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A deliberate government policy to exclude foreign participation in certain economic activity is known as

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A comprehensive statement of Income and expenditure on international accounts for one financial year is called

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The following measures used to check deflation EXCEPT

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Which of the following Is NOT a function of Merchant Bank

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The following are bye-products of crude oil EXCEPT

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The solution to problem of how to produce in a capitalist economy is solved by

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Which of the following goods are NOT examples of joint supply?

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Economics is regarded as a social science because It

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Which of the following is NOT an advantage of localization of industry?

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The theory of absolute advantage was propounded by

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Plantation farming can best be defined as cultivation of

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Which of the following is a disadvantage of sole proprietorship?

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