PassSpark

NECO SSCE Economics 2018 past questions and answers

This 2018 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 2018 set with instant marking.

Practise the full 2018 setTimed exam mode

Sample NECO SSCE Economics 2018 questions

1. A firm pays a landowner rent, workers wages and a lender interest; the payment made to the entrepreneur for organizing production is called
  1. profit
  2. rent
  3. wages
  4. interest

Answer: A. profit

Profit is the reward to the entrepreneur for organizing production and bearing business risk.

2. A factory worker repeats one stage of assembling a product throughout the workday; a likely disadvantage of this arrangement is
  1. greater worker versatility
  2. monotony and loss of skill variety
  3. the elimination of specialization
  4. a guaranteed fall in output

Answer: B. monotony and loss of skill variety

Repeated specialization can make work monotonous and limit the range of skills a worker practises.

3. A workshop makes 288 chairs in 8 working days using 6 workers; its average labour productivity per worker per day is
  1. 4 chairs
  2. 5 chairs
  3. 6 chairs
  4. 30 chairs

Answer: C. 6 chairs

Labour productivity is 288 divided by (8 x 6), which equals 6 chairs per worker-day.

4. When a firm's average cost falls as its output expands over the long run, the firm is experiencing
  1. diminishing marginal utility
  2. diseconomies of scale
  3. an increase in fixed cost only
  4. economies of scale

Answer: D. economies of scale

Economies of scale occur when long-run average cost decreases as the scale of output increases.

5. With land and machinery fixed, adding more workers eventually causes each additional worker to add less output; this illustrates
  1. the law of diminishing returns
  2. the law of demand
  3. increasing returns to scale
  4. the law of supply

Answer: A. the law of diminishing returns

Diminishing returns set in when additional units of a variable input add progressively less output while other inputs are fixed.

More NECO SSCE Economics years

20262025202420232022202120202019201720162015201420132012201120102009200820072006200520042003200220012000

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.