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NECO SSCE Economics 2011 past questions and answers

This 2011 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 2011 set with instant marking.

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Sample NECO SSCE Economics 2011 questions

1. Which measure best distinguishes economic development from a mere rise in real national output?
  1. A sustained increase in real output per person together with improvements in welfare and social conditions
  2. An increase in the money value of exports caused only by higher prices
  3. A rise in the number of currency notes in circulation
  4. A temporary increase in government borrowing

Answer: A. A sustained increase in real output per person together with improvements in welfare and social conditions

Economic development includes sustained improvements in real income per person and broader living conditions, not output growth alone.

2. A major purpose of a national economic development plan is to
  1. eliminate all private ownership of resources
  2. coordinate the use of resources toward stated national objectives
  3. guarantee that every firm earns a profit
  4. prevent changes in consumer preferences

Answer: B. coordinate the use of resources toward stated national objectives

A development plan coordinates priorities, policies, and available resources toward national economic goals.

3. A country gains from specialization and international trade mainly because countries
  1. have identical resource endowments
  2. can avoid all opportunity costs
  3. can specialize according to comparative advantage
  4. must produce every good at the lowest world price

Answer: C. can specialize according to comparative advantage

Specialization based on comparative advantage allows countries to exchange output and achieve gains from trade.

4. A country's current account records which of the following?
  1. Only movements in its official foreign reserves
  2. Only purchases of domestic shares by foreigners
  3. Government expenditure and tax receipts only
  4. Trade in goods and services, income flows, and current transfers with other countries

Answer: D. Trade in goods and services, income flows, and current transfers with other countries

The current account records trade in goods and services as well as primary income and current transfers.

5. If the naira depreciates against foreign currencies, with other factors unchanged, Nigerian exports are likely to become
  1. cheaper to foreign buyers
  2. more expensive to foreign buyers
  3. unavailable to domestic consumers
  4. unaffected in price to all buyers

Answer: A. cheaper to foreign buyers

A depreciation lowers the foreign-currency price of Nigerian goods when domestic-currency prices remain unchanged.

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