Sss 2 Economic 1st Term exam 2025/26
  • 1. Industrialization means______
A) siting an industry in a particular place
B) an act of creating utilities
C) a process of establishing or increasing productive activities
D) a process of wooing investors
  • 2. A country is described as industrialized if _____
A) the contributions of industries to national income is high
B) traditional and modern sectors co-exist
C) the country adopt import promotion strategy
D) primary industries dominate the economy
  • 3. An industry is best described as______
A) a factory that produces different lines of products
B) firm that sells a set of closely related commodities
C) a group of firms that sells a closely related set of products
D) industrial concern that is into production and selling of goods
  • 4. Which of the following is not a type of industry?
A) export
B) mining
C) construction
D) manufacturing
  • 5. Location of industry can be defined as the_____
A) way an industry is located
B) siting of an industry in a place
C) concentration of an industry in a place
D) place where an industry is located
  • 6. Localization of industries means_____
A) siting an industry in an area
B) location of industries in a street
C) a combination of firms
D) concentration of firms in an area
  • 7. An industry that is involved in the manufacturing of fragile or perishable products should be located close to_____.
A) the market
B) source of power
C) source of raw materials
D) source of labour
  • 8. Firms whose output is either bulky or perishable will benefit more from which of the following locational factors?
A) proximity to electricity
B) nearness to financial institutions
C) nearness to labour
D) nearness to market
  • 9. One of the disadvantages of localization of industries is ______
A) social disorder in the urban centres
B) under population in the urban areas
C) over population in the rural areas
D) unemployment in the urban areas
  • 10. A mining industry is usually located near the _____
A) reservoir where there is much water
B) source of raw material supply
C) source of finance
D) market
  • 11. The Economic Community of West African States (ECOWAS) has its headquarters located in _____
A) Nigeria
B) Liberia
C) the Gambia
D) Ghana
  • 12. The treaty of ECOWAS was founded in_____
A) 1984
B) 1977
C) 1975
D) 1978
  • 13. Which of the following is not an international economic organization?
A) African Development Bank (ADB)
B) International Monetary Fund (IMF)
C) Economic Commission for Africa (ECA)
D) Federal Road Safety Corps (FRSC)
  • 14. Anything that is generally acceptable in a giving community as a medium of exchange is referred to as
A) Capital
B) Gift
C) Money
D) Share
  • 15. The system in which people directly exchange one commodity for another is
A) Equilibrium
B) Competition
C) Trade by barter
D) Balance of payments
  • 16. One of the problems of trade by barter is
A) Encouragement of borrowing
B) Fixed exchange rate
C) Able to store wealth
D) Wastage of time and effort
  • 17. One of the functions of money is
A) Serve as a medium of exchange
B) Cannot serve as a unit of account
C) Cannot be used to settle debt
D) Unable to store value
  • 18. One of the similarities between money and other commodities used for exchange in trade by barter is
A) Only money is used for exchange
B) Other commodities have more value than money
C) Inflation affects only money
D) Both have their respective market
  • 19. One of the following is not a type of money
A) Quary money
B) Bank note
C) Coins
D) Legal tender
  • 20. The form of money kept in account of the bank is
A) Bank notes
B) Partial money
C) Deposit money
D) Flat money
  • 21. The cultivation of crops and rearing of farm animals is know as
A) Farming
B) Agriculture
C) Business
D) Breeding
  • 22. One of the reasons for low productivity in agriculture is
A) Adequate credit facilities
B) Availability of storage facilities
C) Mechanization
D) Land tenure system
  • 23. Problems of low agricultural productivity con be solve by one of the followings
A) Fertilizers and pesticide should be reduced
B) Demolition of banks
C) Amendment of land use dacree
D) Research should be limited
  • 24. The roles of government in agreement include all except
A) Provision of effective transportation
B) Provision of labours to farmers
C) Provision of research findings
D) Provision of farm inputs
  • 25. Agriculture provides the following except
A) Building materials
B) Clothes
C) Water
D) Oil
  • 26. A building/buildings in which goods are produced in large quantities,using machine is
A) Estate
B) Factory
C) Industry
D) Firm
  • 27. A place where a firm carries out it's productivity is
A) Firm
B) Factory
C) Plant
D) Industrial estate
  • 28. An industry concerned with the extraction of mineral resources from the soil with devices is know as
A) Textile industry
B) Mining industry
C) Recycling industry
D) Manufacturing industry
  • 29. One of the advantages of localization is
A) Increase crime rate
B) Reduce income
C) Reduce development
D) Generation of employment
  • 30. The process of transforming an economy based on extractive activities into one based on manufacturing is known as
A) Importation
B) Industrialization
C) Agriculture
D) Localization
  • 31. All are problems of agricultural development in Nigeria except
A) Adequate credit facilities
B) Use of crude tools
C) Poor transportation system
D) Illiteracy of the farmer
  • 32. All are roles of industries in agricultural production except
A) Low income of farmers
B) Supply of agricultural inputs
C) Better quality of raw materials
D) Mechanization of agriculture
  • 33. All are agricultural programmes established by government except
A) ADP
B) ODFN
C) GR
D) RBDA
  • 34. GR means
A) Green Review
B) Green Revolution
C) Great Revolution
D) Giant Revolution
  • 35. System of farming where by farmers produce for himself and his family is called
A) Subsistence farming
B) Mechanized farming
C) Personal farming
D) Individual farming
  • 36. The EEC/EU comprises of _______ parliaments
A) 12
B) 7
C) 10
D) 6
  • 37. One of the following is not an Economist
A) Adam Smith
B) Lionel Robbins
C) Alfred Marshall
D) Sir lord lugard
  • 38. All are basic economics concepts except
A) Wants
B) Choice
C) Scarcity
D) Demand
  • 39. Materials used as money which May be legal tender are called
A) Representative money
B) Original money
C) Real money
D) Ordinary money
Students who took this test also took :

Created with That Quiz — the site for test creation and grading in math and other subjects.