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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) Efficiency of labour
C) Labour force
  • 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 75 years
B) 18 to 65 years
C) 18 to 60 years
D) 16 to old age
  • 4. The following are not members of the labour force except
A) People between 18 to 65
B) Children of school age
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) Three
B) Two
C) Five
D) Eight
  • 7. ------ is a way in which labour can be improved
A) Influence of government
B) Language barriers
C) Inadequate management
D) Efficient management
  • 8. A factor affecting geographical mobility of labour is
A) Efficient management
B) Personal reasons
C) Discrimination
D) Weather conditions
  • 9. The most populated continent in the world is
A) Antarctica
B) Asia
C) Australia
D) Africa
  • 10. The head count of all nationals of a country at a particular time is
A) None of the above
B) Population sensor
C) Population
D) Population count
  • 11. Types of population census include
A) De count and De facto
B) De facto and De jure
C) De facto and De more
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 facto
B) De size
C) De jure
D) De more
  • 13. Anything that is generally acceptable as a means of payment for goods and services and for settlement of debt is
A) Payment
B) Trade by barter
C) Money
D) Coins
  • 14. ------ is a function of money
A) Acceptability
B) Durability
C) Medium of exchange
D) Portability
  • 15. The following are types of money except
A) Coins
B) Bank note
C) goods
D) Legal tender
  • 16. Money has solved the problem of ---------
A) Trade by barter
B) Denomination
C) Double coincidence of wants
D) Deferred payment
  • 17. There are ------- main types of inflation
A) Three
B) Eight
C) Six
D) Four
  • 18. ------ is a cause of deflation
A) Increase in salaries and wages
B) Increased demand
C) War
D) Budget surplus
  • 19. One of the general effects of deflation is
A) Employment
B) Encouraged import
C) Discouraged exports
D) Creditors gain
  • 20. One of the ways of controlling deflation is
A) Reduces production
B) Economic stagnation
C) Lower investment
D) Reduction in taxation
  • 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 births in a given area
D) The number of people migrating to a given area
  • 22. What is population growth rate
A) The rate at which population fluctuates
B) The rate at which population decreases
C) The rate at which population increases
D) The rate at which population remains stable
  • 23. What factors influence population growth?
A) Only economic factors
B) Birth rate, death rate, and migration
C) Only birth rate
D) Only migration
  • 24. What is overpopulation?
A) When the population is optimal
B) When the population exceeds the carrying capacity of the environment
C) When the population is too small
D) When the population is decreasing
  • 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 urban to rural areas
B) The decline of urban populations
C) The movement of people from rural to urban areas
D) The growth of rural populations
  • 27. What are the benefits of urbanization?
A) Increased poverty and inequality
B) Decreased economic growth
C) Increased access to education, healthcare, and job opportunities
  • 28. What is the impact of population growth on the environment?
A) Negative impact
B) Positive impact
C) No impact
D) Variable impact
  • 29. What is the relationship between population growth and economic development?
A) Negative relationship
B) Complex relationship
C) Positive relationship
D) No relationship
  • 30. What is the purpose of population census?
A) All of the above
B) To count the number of people in a given area
C) To plan and allocate resources
D) To collect data on population characteristics
  • 31. What is industry?
A) The production of goods and services
B) The consumption of goods and services
C) The export of goods and services
D) The distribution of goods and services
  • 32. What is industrialization?
A) The process of developing industries in a country or region
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 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) Only secondary
B) Primary, secondary and tertiary
C) Only primary
D) Only tertiary
  • 35. What is primary industry?
A) The production of raw materials
B) The consumption of finished goods
C) The distribution of finished goods
D) The processing of raw materials
  • 36. What is secondary industry?
A) The consumption of finished goods
B) The processing of raw materials into finished goods
C) The production of raw materials
D) The distribution of finished goods
  • 37. What is tertiary industry?
A) The production of raw materials
B) The processing of raw materials into finished goods
C) The consumption of 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 costs and reduce competitiveness
C) To have no impact on productivity and efficiency
D) To increase productivity and efficiency
  • 39. What are the challenges faced by industries in developing countries?
A) Strong institutional framework
B) Lack of infrastructure, skilled labor, and access to markets
C) Abundance of infrastructure, skilled labor and access to markets
  • 40. What is the role of government in promoting industrialization?
A) To provide infrastructure, incentives, and institutional support
B) To ignore industrial development
C) To restrict industrial development
D) To solely rely on market forces
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