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NECO SSCE Economics 2016 past questions and answers

This 2016 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 2016 set with instant marking.

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Sample NECO SSCE Economics 2016 questions

1. Which institution commonly provides temporary financial assistance to member countries facing balance-of-payments difficulties?
  1. International Monetary Fund
  2. International Finance Corporation
  3. World Trade Organization
  4. United Nations Development Programme

Answer: A. International Monetary Fund

The IMF provides financial support and policy advice to members experiencing external payment difficulties.

2. The International Finance Corporation primarily promotes development by financing which group?
  1. Central governments' routine wage bills
  2. International military operations
  3. Short-term household consumption
  4. Private enterprises in developing economies

Answer: D. Private enterprises in developing economies

The IFC supports private-sector investment and enterprises in developing economies.

3. Which statement best describes sustainable development?
  1. Using all natural resources as quickly as possible
  2. Preventing every form of industrial production
  3. Meeting present needs without undermining future generations' ability to meet theirs
  4. Maximizing current output regardless of environmental damage

Answer: C. Meeting present needs without undermining future generations' ability to meet theirs

Sustainable development meets present needs while preserving the capacity of future generations to meet their own needs.

4. A Lorenz curve is used to show the relationship between the cumulative percentage of the population and the cumulative percentage of what?
  1. National output produced
  2. Taxes collected
  3. Goods consumed
  4. Income received

Answer: D. Income received

The Lorenz curve plots cumulative population shares against the corresponding cumulative shares of income.

5. A household is classified as living in absolute poverty when its income or expenditure is insufficient to meet which standard?
  1. The average income of the richest households
  2. A specified minimum standard of basic needs
  3. The country's export target
  4. The average wage in the public sector

Answer: B. A specified minimum standard of basic needs

Absolute poverty is measured against a defined minimum level of resources needed for basic necessities.

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