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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) Efficiency of labour
B) Labour force
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 force
B) Labour market
C) Consumer market
D) Labour drive
  • 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) The elderly
B) People between 18 to 65
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) Labour market
B) Inefficiency of labour
C) Efficiency of labour
D) Mobility of labour
  • 6. There are ----- types of labour
A) Two
B) Five
C) Eight
D) Three
  • 7. ------ is a way in which labour can be improved
A) Language barriers
B) Influence of government
C) Inadequate management
D) Efficient management
  • 8. A factor affecting geographical mobility of labour is
A) Discrimination
B) Efficient management
C) Weather conditions
D) Personal reasons
  • 9. The most populated continent in the world is
A) Africa
B) Australia
C) Antarctica
D) Asia
  • 10. The head count of all nationals of a country at a particular time is
A) Population
B) Population count
C) Population sensor
D) None of the above
  • 11. Types of population census include
A) De mure and De facto
B) De count and De facto
C) De facto and De jure
D) De facto and De more
  • 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 size
C) De jure
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) Trade by barter
B) Money
C) Payment
D) Coins
  • 14. ------ is a function of money
A) Medium of exchange
B) Portability
C) Durability
D) Acceptability
  • 15. The following are types of money except
A) Legal tender
B) Coins
C) Bank note
D) goods
  • 16. Money has solved the problem of ---------
A) Denomination
B) Double coincidence of wants
C) Trade by barter
D) Deferred payment
  • 17. There are ------- main types of inflation
A) Eight
B) Three
C) Six
D) Four
  • 18. ------ is a cause of deflation
A) War
B) Budget surplus
C) Increase in salaries and wages
D) Increased demand
  • 19. One of the general effects of deflation is
A) Encouraged import
B) Creditors gain
C) Discouraged exports
D) Employment
  • 20. One of the ways of controlling deflation is
A) Reduction in taxation
B) Reduces production
C) Economic stagnation
D) Lower investment
  • 21. What is population?
A) The number of deaths in a given area
B) The total number of people living 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 decreases
B) The rate at which population remains stable
C) The rate at which population increases
D) The rate at which population fluctuates
  • 23. What factors influence population growth?
A) Only birth rate
B) Birth rate, death rate, and migration
C) Only economic factors
D) Only migration
  • 24. What is overpopulation?
A) When the population is decreasing
B) When the population is optimal
C) When the population exceeds the carrying capacity of the environment
D) When the population is too small
  • 25. What is population density?
A) The rate of population growth
B) The number of people per unit area
C) The total number of people in a given area
D) The rate of population decline
  • 26. What is urbanization?
A) The growth of rural populations
B) The movement of people from rural to urban areas
C) The movement of people from urban to rural areas
D) The decline of urban populations
  • 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) Positive relationship
B) Complex relationship
C) Negative relationship
D) No relationship
  • 30. What is the purpose of population census?
A) To count the number of people in a given area
B) To plan and allocate resources
C) All of the above
D) To collect data on population characteristics
  • 31. What is industry?
A) The distribution of goods and services
B) The production of goods and services
C) The export of goods and services
D) The consumption 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 stagnant industries in a country or region
D) The process of importing goods and services
  • 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 secondary
C) Primary, secondary and tertiary
D) Only primary
  • 35. What is primary industry?
A) The processing of raw materials
B) The distribution of finished goods
C) The consumption of finished goods
D) The production 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 distribution of finished goods
D) The production of raw materials
  • 37. What is tertiary industry?
A) The consumption of finished goods
B) The processing of raw materials into finished goods
C) The provision of services
D) The production of raw materials
  • 38. What is the role of technology in industry?
A) To have no impact on productivity and efficiency
B) To reduce productivity and efficiency
C) To increase costs and reduce competitiveness
D) To increase 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 provide infrastructure, incentives, and institutional support
B) To solely rely on market forces
C) To restrict industrial development
D) To ignore industrial development
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