NECO SSCE - Economics - 2009

The process of building up country’s capacity to process raw materials for the production of goods is known as

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When the demand for foreign exchange exceeds its supply, the value of the domestic currency

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Production is best defined in economics as

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Inflation is a …………….

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The following are the differences between domestic and international trade EXCEPT

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A major feature of capitalism is

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The additional satisfaction derived from the consumption of one more unit of a good is called

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A firm is said to be a public joint-stock company when it

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Using Expenditure Approach to estimate National Income, Y is equal to

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When the value of a country’s export exceeds her imports, there will be a

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The correct relationship between income (Y), consumption (C) and savings (S) is

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The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the

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The International Monetary Fund (IMF) was set up mainly to

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The demand for salt is …………

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Through membership of the Economic Community of West African States (ECOWAS) countries have achieved

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Taxes levied on locally manufactured goods are called

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One of the roles of industrialization in economic development of Nigeria is

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The demand curve of a perfect competitive market is infinitely elastic indicating that the firm can

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A production possibility curve shows the

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The concentration of firms in one area is referred to as of ……………. industries.

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The value of money is affected by

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These are the objectives of industrial strategies in Nigeria EXCEPT

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In a given set of data, if the variance is 25, what is the standard deviation?

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Oil was first discovered in commercial quantity in ……….. State.

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Which of the following is a determinant of elasticity of supply?

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Which of the following is a function of the central bank?

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The following are qualities of money EXCEPT

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The purchasing power of the Naira will fall when

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Economic growth can be defined as

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One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it

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Data presented in tables are usually arranged in ………… and …………

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The amount of satisfaction per unit of the commodity consumed is called

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Which of these factors causes a change in the quantity demanded of a commodity?

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Average total cost can be expressed as

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A monopolist is a

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The unit for measuring changes in prices and output is called ………………. index

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The mean of the following scores

30, 32, 34, 36, 38, 40 and 42

What is the mean deviation?

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Disguised unemployment is the same thing as

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Time deposit is the same thing as

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The first National development plan period was from

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The growth of a country’s population is affected by

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Which of the following is a form of business enterprise?

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Which of the following is NOT an advantage of tabular presentation of data?

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Labour force simply means the

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The concept of choice in Economics refers to

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Which of the following hinder(s) effective distribution of goods in Nigeria?

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Price elasticity of supply measures the responsiveness of quantity supplied to

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Entrepreneur is associated more with

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