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