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