NECO SSCE - Economics - 2003 (Objective)

Abdul is faced with a choice between buying a new NOTE book and a pen with N10. Since the N10 can NOT give him both items he decide to buy NOTE book. The money cost to him is

N10 Correct answer

N20

N30

N40

N50

Answer Details

Read lesson note on The Theory Of Supply (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

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

Read lesson note on Supply (WAEC)

The Theory Of Supply

Theory Of Price Determination

The Theory Of Demand

The Theory Of Price Determination

Supply

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Question 38 Report

Which of the following is NOT a component of agriculture?

crop farming

drilling Correct answer

fishing

forestry

livestock farming

Answer Details

Read lesson note on Agriculture (WAEC)

Read lesson note on Money And Inflation (JAMB)

Agriculture

Money And Inflation

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Question 39 Report

The professional that view cost in term of alternatives sacrificed is the

accountant

cashier

economist Correct answer

manager

tax collector

Answer Details

Read lesson note on Theory Of Costs (JAMB)

Theory Of Costs

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Question 40 Report

In the demographic transition theory, stage II represents a stage where

declining birth rates with low death rates lead to little or no population growth

high birth rate with low death rates lead to no population growth

there is population growth due to high birth rates and low death rates at that stages

there is a slow rate of population growth as a result of high birth rate accompanied by high but slightly fluctuating death rate Correct answer

there is a very high growth as population as a result of high birth rates accompanied by high but slightly fluctuating death rates

Answer Details

Read lesson note on Population (JAMB)

Population

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Question 41 Report

Which of the following is NOT a reason for the absence of an industry in the rural areas?

Absence of financial institution

restricted market

inadequate power and water supply

inadequate transportation

presence of external economies Correct answer

Answer Details

Read lesson note on Agriculture (WAEC)

Read lesson note on Banking (JAMB)

Agriculture

Banking

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Question 42 Report

Price legislation means

directing market specialist to fix prices Correct answer

interplay of either demand or supply

producers are prices givers

regulating the price system by the government

the use of market forces

Answer Details

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

Read lesson note on Economic Systems (JAMB)

The Theory Of Price Determination

Economic Systems

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Question 43 Report

Which of the following is NOT a function of taxation?

make few people rich in the country

raise revenue for the government

redistribution of income

reduces production and consumption of harmful goods Correct answer

used as anti-inflationary device

Answer Details

Read lesson note on Economic Systems (JAMB)

Economic Systems

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Question 44 Report

Central bank of Nigerian started operation

1958

1959 Correct answer

1960

1963

1973

Answer Details

Read lesson note on Banking (JAMB)

Banking

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Question 45 Report

In economics, electricity, water supply, communication networks, road, etc are known as

capital structure

development induces

development projects

infrastructural facilities Correct answer

project growth

Answer Details

Read lesson note on Market Structure (JAMB)

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Economic Systems (JAMB)

Market Structure

Economics As A Science

Economic Systems

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Question 46 Report

The best way of presenting data in tabular form is in

bars and columns

charts and lines

maps and rows Correct answer

pictographs and histogram

rows and columns

Answer Details

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

Read lesson note on Basic Tools Of Economic Analysis (WAEC)

Methods And Tools Of Economic Analysis

Basic Tools Of Economic Analysis

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Question 47 Report

Of what importance is a wholesaler in the chain of distribution?

creation of artificial scarcity

bulk breaking Correct answer

formation of trade unionism

hoarding of goods

making prompt payment to producers

Answer Details

Read lesson note on Distributive Trade (WAEC)

Distributive Trade

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Question 48 Report

A problem of price control is

development of black-market

increased earning and higher profit

increase in employment Correct answer

increase investment

redistribution of income

Answer Details

View Answer

Question 49 Report

Using functional relationship in economics QX = f (px, po, y, T); po stand for

level of income of the consumer

price of x

price of other commodities Correct answer

production function of x

price index

Answer Details

Read lesson note on Banking (JAMB)

Read lesson note on Theory Of Production (WAEC)

Read lesson note on Economics As A Science (JAMB)

Read lesson note on Agriculture In Nigeria (JAMB)

Banking

Theory Of Production

Economics As A Science

Agriculture In Nigeria

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Question 50 Report

In calculating mean one should

add the highest and the lowest number

divide the highest and the lowest number

divide the sum of the figure by the number of the figure Correct answer

find the most common number

pick any number that has no partner

Answer Details

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

Read lesson note on International Trade (JAMB)

Read lesson note on Theory Of Price Determination (WAEC)

Read lesson note on Theory Of Production (WAEC)

Read lesson note on The Theory Of Demand (JAMB)

Methods And Tools Of Economic Analysis

International Trade

Theory Of Price Determination

Theory Of Production

The Theory Of Demand

View Answer






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