Hello and Welcome to SSCE (WAEC and NECO) Practice Test - Economics You are to attempt 20 Random Objectives Questions ONLY for 15 minutes. Supply your name and name of school in the text box below. Your time starts NOW! Full Name (Surname First): School: Physical productivity is affected by all the under-listed factors except theA. state of technology. B. quantity of inputs. C. quality of inputs. D. price of output.ABCDWhich of the following will shift the demand curve for cocoa to the right?A. An increase in consumers’ income.B. A rise in the price of cocoa.C. A tax on cocoa producers.D. A fall in the quantity demanded of cocoa.ABCDAn increase in the supply of a commodity X automatically results in an increase in the supply of another commodity Y. This is a case ofA. elastic supply. B. joint supply. C. exceptional supply. D. competitive supply.ABCDWhich of the following problems arises where there are more than one technically possible methods of production?A. Where to produce B. For whom to produce C. How to. produce D. What to produceABCDGeneral rise in the price level induced by increased price of inputs is referred to asA. run-away inflation.B. cost-push inflation.C. demand-pull inflation.D. imported inflation.ABCDWhich of the following is not a function of the West African Development Bank?A. Promotion of both private and public investments in member statesB. Financing and executing projects in member statesC. Promotion of social development of member statesD. harmonization of oil prices to the advantage of member statesABCDThe law of diminishing marginal utility applies to aA. firm which minimizes cost.B. consumer who maximizes satisfaction.C. producer who maximizes marginal product.D. consumer who minimizes total utility.ABCDThe demand for money is described as aA. competitive demand. B. joint demand. C. derived demand. D. composite demand.ABCDGoods are said to be in competitive demand when they areA. substitutes. B. complementary. C. jointly demanded. D. identical.ABCDWhere a commodity takes an insignificant proportion of the consumer’s income, demand for it will beA. unitary elastic. B. price inelastic. C. fairly elastic. D. income inelastic.ABCDWhich of the following best explains what to produce?A. How much goods are to be produced.B. The combination of resources to be used.C. Which goods and services to be produced.D. How many wants are to be satisfied.ABCDWhich of the following items is not included in measuring national income by the income approach?A. Profits of companiesB. Rents on propertyC. Students’ grants and scholarshipsD. Wages and salaries of public servantsABCDOne of the reasons why government may erect a trade barrier is toA. control foreign currencies.B. protect infant industries.C. promote importation.D. diversify the economy.ABCDAn agricultural production process which uses more machinery relative to labour is referred to asA. large-scale farming.B. capital intensive farming.C. commercial farming.D. land intensive farming.ABCDThe International Bank for Reconstruction and Development (IBRD) is important to developing nations because itA. gives aid for defence.B. offers loans for public projects.C. offers aid to finance private projects.D. gives loans for legal proceedings.ABCDWhich of the following is involved in the money market?A. Building society. B. Development banks. C. Commercial banks. D. Stock exchange.ABCDThe owing are means of reducing the population of a country except encouragingA. emigration B family planning. C. early marriage. D. sex education.ABCDWhich of the following is the main outcome of a trade union’s interference with the wage rate? Wages areA. lowered but more employment opportunities are created.B. lowered but employment level remains unchanged.C. increased and employment levels are unchanged.D. increased but employment levels are reduced.ABCDThe action of government to forgo road construction in order to provide more health facilities denotesA. sound economic decision.B. opportunity Cost.C. practicable government policy.D. scale of preference.ABCDWhen there is improvement in a country’s terms of trade, it means that the country’sA. exports are cheaper relative to imports.B. imports are cheaper relative to exports.C. volume of imports has declined.D. volume of exports has declined.ABCD1 out of To submit your quiz and see your score/performance report; Make sure you supply your name and name of school in the form above. Unable to submit your quiz? Kindly Click Here To Retake SSCE (WAEC and NECO) Practice Test - Economics. Make sure you supply your full name and name of school before submission. Time is Up! Follow ASSURE On Social Media Categories: SSCE (WAEC and NECO) Practice Test (In All Subjects) Tags: SSCE (WAEC and NECO) Practice Test - Economics 0 Comments Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Name * Email * Website What's on your mind? Save my name, email, and website in this browser for the next time I comment. Please enter an answer in digits:16 + 5 = This site uses Akismet to reduce spam. Learn how your comment data is processed.