NECO SSCE - Economics - 2007

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

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

Which of the following is a disadvantage of sole proprietorship?

The difference between bar charts and histograms is that the former

The following methods are used in calculation of National Income EXCEPT

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

Which of the following Is NOT a function of Merchant Bank

In a solo proprietorship, decisions are made by the

The following are the objectives of economic planning EXCEPT

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

The first oil refinery in Nigeria was established at

The following are types of monopolies EXCEPT

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

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

Population density refers to

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

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

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

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

The following are advantages of standard deviation EXCEPT that it

The equation MV PT is known as

Economics is regarded as a social science because It

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

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

Branding and packaging of goods Is the function of

Agricultural production in Nigeria could be improved through

The theory of absolute advantage was propounded by

At the point where total utility begins to decline MU is

The following are bye-products of crude oil EXCEPT

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

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

The function muv/muz = py/pz represents

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

Standard deviation can be determined by the square root of the

Which of the following is a condition necessary

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

The following measures used to check deflation EXCEPT

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

Plantation farming can best be defined as cultivation of

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

The following countries are members of ECOWAS EXCEPT

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

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

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

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

Which of the following is NOT a feature of land?