SS 2 Economics Assignment
  • 1. 1. The production of crops and rearing of animals for man's use is called ______
A) Financial institutions
B) Geography
C) Agriculture
D) Economics
  • 2. 2. An institution established by member banks to simplify exchanging and obtaining of payments of cheques paid into bank branches is _______
A) Commercial banks
B) Merchant banks
C) Mortgage banks
D) Bank clearing
  • 3. 3. _____ is the person to whom the cheque is made payable
A) None of the above
B) Drawee
C) Drawer
D) Payee
  • 4. 4. The following are examples of cash crops except _____
A) cotton
B) vegetable
C) rubber
D) cocoa
  • 5. 5. The types of agriculture which involves production of food, animals and cash crop in large quantities for sale is referred to as _____
A) Commercial farming
B) Subsistence farming
C) Co-operative farming
D) Plantation farming
  • 6. 6. The apex bank is the ____
A) Merchant bank
B) Mortgage bank
C) Commercial bank
D) Central bank
  • 7. 7. Which of the following is not an item of capital expenditure
A) building of dams
B) payment of interest on loan
C) building of roads and bridges
D) supply of electricity
  • 8. 8. The following are examples of commercial banks except ____
A) Wema bank
B) First bank
C) Central bank
D) Union bank
  • 9. 9. International trade and domestic trade are similar in all aspects except _____
A) goods are exchanged
B) the same currency is used as a medium of exchanged
C) services are exchange
D) transportation by land, water and air is involved
  • 10. 10. A financial institution established for the purpose of providing specialized services like acceptance of bills of exchange and equipment leasing is known as _____
A) Insurance company
B) Merchant bank
C) Development bank
D) Central bank
  • 11. 11. Productivity in agriculture can be improved through ____
A) decrease in size of labour
B) promotion of subsistence farming
C) provision of modern implement
D) excessive use of crude implement
  • 12. 12. A bank note is said to be a legal tender because it is
A) signed by the head of state
B) printed by government
C) backed by law
D) a store of value
  • 13. 13. The following are examples of food crops except ____
A) vegetables
B) rubber
C) rice
D) yam
  • 14. 14. ______ is a method of credit facilities in which a customer is allowed to draw a cheque more than the amount of money in his/her account
A) Loan
B) Bill of exchange
C) Overdraft
D) None of the above
  • 15. 15. Instruments used in money market include the following except ____
A) shares
B) call money fund
C) treasury bills
D) bill of exchange
  • 16. 16. The following are problems of agriculture in Nigeria except ____
A) unfavourable climate
B) illiteracy of the farmer
C) adequate finance
D) use of crude implement
  • 17. 17. Pest and diseases _____ the farmer's harvest
A) boost
B) yield
C) increase
D) reduce
  • 18. 18. International trade is also known as _____
A) foreign trade
B) Outside trade
C) domestic trade
D) home trade
  • 19. 19. The similarity between international trade and internal trade is ____
A) both trade involve the same language
B) both trade involve the use of money as a medium of exchange
C) both trade involve the use of different currency
D) both trade involve exchange of goods within the borders of the country
  • 20. 20. Subsistence farming means producing food mainly
A) to satisfy the government directives
B) for sale
C) for export
D) for the need of our immediate and extended family
Students who took this test also took :

Created with That Quiz — where a math practice test is always one click away.