PES SS 1 Economics 3rd Term Exam 2024/2025
  • 1. __can be defined as the total number of persons available to supply the labour for the production of economic goods
A) Labour force
B) Efficiency of labour
C) Labour market
  • 2. -----is defined as the market in which buyers and sellers of labour are in close contact during which conditions of service are determined and agreed upon
A) Labour market
B) Consumer market
C) Labour drive
D) Labour force
  • 3. Members of the labour force are normally between the age bracket of
A) 18 to 60 years
B) 18 to 65 years
C) 16 to old age
D) 18 to 75 years
  • 4. The following are not members of the labour force except
A) People between 18 to 65
B) The elderly
C) Children of school age
D) People unwilling to work
  • 5. The ability of labour to increase output without increasing the quantity of labour is
A) Efficiency of labour
B) Labour market
C) Mobility of labour
D) Inefficiency of labour
  • 6. There are ----- types of labour
A) Two
B) Eight
C) Five
D) Three
  • 7. ------ is a way in which labour can be improved
A) Inadequate management
B) Language barriers
C) Influence of government
D) Efficient management
  • 8. A factor affecting geographical mobility of labour is
A) Personal reasons
B) Efficient management
C) Discrimination
D) Weather conditions
  • 9. The most populated continent in the world is
A) Asia
B) Africa
C) Australia
D) Antarctica
  • 10. The head count of all nationals of a country at a particular time is
A) Population count
B) None of the above
C) Population
D) Population sensor
  • 11. Types of population census include
A) De count and De facto
B) De facto and De more
C) De mure and De facto
D) De facto and De jure
  • 12. The type of population census which involves the counting of only those who are present physically during census is
A) De more
B) De jure
C) De size
D) De facto
  • 13. Anything that is generally acceptable as a means of payment for goods and services and for settlement of debt is
A) Money
B) Trade by barter
C) Payment
D) Coins
  • 14. ------ is a function of money
A) Acceptability
B) Medium of exchange
C) Durability
D) Portability
  • 15. The following are types of money except
A) Legal tender
B) Bank note
C) Coins
D) goods
  • 16. Money has solved the problem of ---------
A) Deferred payment
B) Double coincidence of wants
C) Denomination
D) Trade by barter
  • 17. There are ------- main types of inflation
A) Three
B) Eight
C) Six
D) Four
  • 18. ------ is a cause of deflation
A) Budget surplus
B) Increased demand
C) War
D) Increase in salaries and wages
  • 19. One of the general effects of deflation is
A) Creditors gain
B) Employment
C) Discouraged exports
D) Encouraged import
  • 20. One of the ways of controlling deflation is
A) Reduces production
B) Lower investment
C) Economic stagnation
D) Reduction in taxation
  • 21. What is population?
A) The number of births in a given area
B) The number of people migrating to a given area
C) The number of deaths in a given area
D) The total number of people living in a given area
  • 22. What is population growth rate
A) The rate at which population decreases
B) The rate at which population fluctuates
C) The rate at which population remains stable
D) The rate at which population increases
  • 23. What factors influence population growth?
A) Only economic factors
B) Only migration
C) Only birth rate
D) Birth rate, death rate, and migration
  • 24. What is overpopulation?
A) When the population exceeds the carrying capacity of the environment
B) When the population is decreasing
C) When the population is optimal
D) When the population is too small
  • 25. What is population density?
A) The total number of people in a given area
B) The rate of population decline
C) The rate of population growth
D) The number of people per unit area
  • 26. What is urbanization?
A) The growth of rural populations
B) The movement of people from rural to urban areas
C) The decline of urban populations
D) The movement of people from urban to rural areas
  • 27. What are the benefits of urbanization?
A) Decreased economic growth
B) Increased poverty and inequality
C) Increased access to education, healthcare, and job opportunities
  • 28. What is the impact of population growth on the environment?
A) Negative impact
B) Variable impact
C) No impact
D) Positive impact
  • 29. What is the relationship between population growth and economic development?
A) Negative relationship
B) Positive relationship
C) Complex relationship
D) No relationship
  • 30. What is the purpose of population census?
A) To plan and allocate resources
B) To collect data on population characteristics
C) All of the above
D) To count the number of people in a given area
  • 31. What is industry?
A) The consumption of goods and services
B) The export of goods and services
C) The distribution of goods and services
D) The production of goods and services
  • 32. What is industrialization?
A) The process of stagnant industries in a country or region
B) The process of developing industries in a country or region
C) The process of declining industries in a country or region
D) The process of importing goods and services
  • 33. What are the benefits of industrialization?
A) No impact on economic growth, job creation or standard of living
B) Increased economic growth, job creation, and improved standard of living
C) Increased poverty and inequality
  • 34. What are the types of industries?
A) Primary, secondary and tertiary
B) Only secondary
C) Only primary
D) Only tertiary
  • 35. What is primary industry?
A) The production of raw materials
B) The processing of raw materials
C) The consumption of finished goods
D) The distribution of finished goods
  • 36. What is secondary industry?
A) The production of raw materials
B) The consumption of finished goods
C) The processing of raw materials into finished goods
D) The distribution of finished goods
  • 37. What is tertiary industry?
A) The consumption of finished goods
B) The production of raw materials
C) The processing of raw materials into finished goods
D) The provision of services
  • 38. What is the role of technology in industry?
A) To reduce productivity and efficiency
B) To increase productivity and efficiency
C) To have no impact on productivity and efficiency
D) To increase costs and reduce competitiveness
  • 39. What are the challenges faced by industries in developing countries?
A) Lack of infrastructure, skilled labor, and access to markets
B) Strong institutional framework
C) Abundance of infrastructure, skilled labor and access to markets
  • 40. What is the role of government in promoting industrialization?
A) To solely rely on market forces
B) To ignore industrial development
C) To restrict industrial development
D) To provide infrastructure, incentives, and institutional support
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