NECO SSCE - Economics - 2007 (Objective)

The first oil refinery in Nigeria was established at

The theory of absolute advantage was propounded by

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

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

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

Plantation farming can best be defined as cultivation of

The following methods are used in calculation of National Income EXCEPT

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

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

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

The following are bye-products of crude oil EXCEPT

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

The following measures used to check deflation EXCEPT

Branding and packaging of goods Is the function of

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

Which of the following Is NOT a function of Merchant Bank

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

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

Population density refers to

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

The equation MV PT is known as

Which of the following is a disadvantage of sole proprietorship?

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

The difference between bar charts and histograms is that the former

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

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

Which of the following is NOT a feature of land?

Standard deviation can be determined by the square root of the

The following are advantages of standard deviation EXCEPT that it

At the point where total utility begins to decline MU is

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

Agricultural production in Nigeria could be improved through

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

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

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

The following countries are members of ECOWAS EXCEPT

In a solo proprietorship, decisions are made by the

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

The following are types of monopolies EXCEPT

Economics is regarded as a social science because It

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

The function muv/muz = py/pz represents

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

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

Which of the following is a condition necessary

The following are the objectives of economic planning EXCEPT