FLYING COLOR HOME FOR THE BRAVES ENGLISH MATHEMATICS CIVIC EDUCATION DATA PROCESSING BIOLOGY PHYSICS CHEMISTRY ECONOMICS ACCOUNTING COMMENCE GOVERNMENT CRK LITERATURE 0% CBT practice is closed Chat admin via +23408033703948...! 0% CBT practice is closed Chat admin via +23408033703948...! 0% CBT practice is closed Chat admin via +23408033703948...! Upcoming… 0% CBT practice is closed Chat admin via +23408033703948...! 0% CBT practice is closed Chat admin via +23408033703948...! 0% CBT practice is closed Chat admin via +23408033703948...! 0% Work with speed and precision , because time wait's for nobody!!! Time up! ECONS CBT PRACTICE Welcome to WAEC / NECO CBT free practice zone Enter Your Name 1 / 20 The accumulated fund of a not for profit making organization is termed ___ (a) fixed asset (b) current asset (c) long term payables (d) capital. 2 / 20 Which one of the following is NOT an importance of scale of preference a) identification of highest priority b) to satisfy the government c) ranking of needs d) financial prudence 3 / 20 The direct exchange of goods for another goods without the use of money is known as _______________ (a) foreign exchange (b) exchange rate (c) expenditure (d) barter. 4 / 20 The branch of economics that is concerned with the study of money and banking is ____ a) pure economics b) applied economics c) mathematical economics d) monetary economics 5 / 20 The pie chart is usually measured in ____ or in ____ a) mean and median b) demand and supply c) percentage and degrees d) gold and silver 6 / 20 __________ is a list showing the order in which we want to satisfy our wants arranged in order of priority a) wants b) scarcity c) opportunity cost d) scale of preference 7 / 20 Which of the following best describe high population growth? (a) the number of deaths is equal to the number of birth (b) the birth rate is the same as the death rate (c) the people moving out of an area are more than the people moving into it (d)the birth rate is higher than the death rate. 8 / 20 One man business are popular in West Africa because of the following except the _____________ (a) ease of entry (b) small capital requirement (c) limited entrepreneurship skill needed (d) tendency to become joint stock companies. 9 / 20 The Economic Community for Africa is an agency of the. (a) Organization of Africa Unity (b) African Development Bank (c) European Union (d) United Nations Organization. 10 / 20 The scores of five students in an economics test are given as follows: 7, 5, 3, 4, and 6. Calculate the mean a) 5 b) 7 c) 4 d) 3 11 / 20 International trade is desirable because. _______ (a) may lead to over production (b) bring about over dependency on countries on one and another (c) provides foreign markets for local goods (d) bring about unhealthy competitions and rivalries. 12 / 20 ONE of these is the supply of money in the economy. (a) bank notes only (b) bank notes and coin (c) bank notes and bank deposits (d) bank notes, coins and bank and bank deposits. 13 / 20 A simple circle of any convenient size which is divided into sectors, each of which is proportional to the quantity/value it represent is ___ a) pie chart b) bar chart c) histogram d) pictogram 14 / 20 _______ is made up of bars of rectangles of equal width, whose lengths are proportional to the quantities they represent a) pie chart b) bar chart c) histogram d) pictogram 15 / 20 The component of a three-sector economy is ___ (a) banks, schools and hospitals (b) workers, producers and marketers (c) household, firms and the government (d) producers, retailers and wholesalers 16 / 20 Of the Labour force of a country is 2.5 million and 2 million are employed, what is the rate of unemployment? (a) 0.20% (b) 20% (c) 200% (d) 250%. 17 / 20 In Economics, who wrote the book titled “WEALTH OF NATIONS” a) Adam Smith b) Alfred Marshal c) J.S Mills d) U.G Robbison 18 / 20 Industry can be defined as _____ (a) several firms producing different commodity (b) group of firms producing similar commodities (c) different firms producing equal numbers of commodities (d) many firms producing for export 19 / 20 The median is the ____ number in a given set of numbers a) average b) middle c) most occurred d) highest 20 / 20 The mechanism which allows the price of a commodity to be fixed either above or below the equilibrium is know as. (a) monopolistic competition (b) price discrimination (c) perfect competitive market (d) price control. Your score is 0% Upcoming… Upcoming… 0% CBT practice is closed Chat admin via +23408033703948...! 0% CBT practice is closed Chat admin via +23408033703948...! Upcoming…