PassSpark

NECO SSCE Economics 2009 past questions and answers

This 2009 NECO SSCE Economics set has 40 practice questions. Try these 5 free sample questions, tap a question to reveal the answer and explanation. Then practise the whole 2009 set with instant marking.

Practise the full 2009 setTimed exam mode

Sample NECO SSCE Economics 2009 questions

1. A country exports cocoa worth ₦240 million and imports machinery worth ₦310 million. What is its visible trade balance?
  1. ₦70 million surplus
  2. ₦550 million deficit
  3. ₦70 million deficit
  4. ₦240 million surplus

Answer: C. ₦70 million deficit

The visible balance is exports minus imports, so ₦240 million − ₦310 million = a ₦70 million deficit.

2. Which transaction is recorded in the current account of a country's balance of payments?
  1. A Nigerian firm imports crude oil drilling equipment
  2. A foreign investor buys shares in a Nigerian company
  3. The central bank adds to its foreign reserves
  4. A Nigerian company repays a foreign loan principal

Answer: A. A Nigerian firm imports crude oil drilling equipment

Imports of goods are recorded in the current account, while investment and reserve transactions are financial-account items.

3. If the naira depreciates against the dollar, other things being equal, which outcome is most likely?
  1. Imported goods become cheaper in naira
  2. Nigerian exports become more expensive to foreign buyers
  3. The naira's purchasing power over foreign goods rises
  4. Imported goods require more naira to purchase

Answer: D. Imported goods require more naira to purchase

A weaker naira means more naira are needed to buy the same amount of foreign currency and imported goods.

4. A government imposes a tariff on imported footwear mainly to
  1. increase the quantity of footwear imported
  2. protect domestic footwear producers from foreign competition
  3. eliminate all domestic production
  4. reduce the price of imported footwear

Answer: B. protect domestic footwear producers from foreign competition

A tariff raises the cost of imports and can give local producers protection from foreign competition.

5. Member countries of a customs union are distinguished from those in a free-trade area because they
  1. adopt a common external tariff on imports from non-members
  2. must use a single currency
  3. abolish all indirect taxes
  4. allow no movement of workers between members

Answer: A. adopt a common external tariff on imports from non-members

A customs union combines free trade among members with a common external tariff against non-members.

More NECO SSCE Economics years

20262025202420232022202120202019201820172016201520142013201220112010200820072006200520042003200220012000

All NECO SSCE Economics years · NECO SSCE subjects

PassSpark questions are original practice questions written to each exam's syllabus and format, in the style of past questions. They are not official past papers and are not affiliated with JAMB, WAEC, NECO, any university or any exam body.