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Economics

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23 views

Economics

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SOMOSCO
Copyright
© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
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NASIHA ACADEMY EDUCATIONAL SERVICES

2nd TERM EXAMINATION 2023


SUBJECT: ECONOMICS
CLASS: SSS 2
Instruction: Answer all question
1. The factor of production include the following except (a) labour &
wage (b) land and labour (c) capital (d) entrepreneur
2. The combination of both physical and mental effort of man directed
toward production is known as _______ (a) land (b) capital (c)
labour (d) production
3. The early stage of production involves the extraction of raw materials
is called (a) primary production (b) secondary production (c) tertiary
production (d) semi tertiary
4. One of this is not the advantage of division of labour (a) saving
(b) decrease in product (c) it leads to specialization (d) increase
product
5. One of the following is a type of production (a) direct production
(b) primary production (c) secondary production (d) tertiary
production
6. The goods that satisfy consumer immediate need is called (a) radio
goods (b) durable goods (c) non-durable goods (d) consumer goods
7. Goods that is use over and over before it worn out are called
(a) consumer or capital good (b) durable good (c) non-durable goods
(d) preferences goods
8. Indirect production is divided into how many forms (a) 2 (b) 3 (c) 8
(d) 5
9. One of this is not a factor that determine the volume of production
(a) storage facilities (b) management (c) amount of capitals
(d) demand
10. ________ referred to the amount of funds use in business (a) nature
of goods (b) level of technology (c) amount of capital (d) tax
11. ________ brought about increase in production (a) management
(b) storage facilities (c) nature of goods (d) capital
12. ________ is consider as a gift of nature (a) labour (b) entrepreneur
(c) land (d) capital
13. One of this is not an important of land (a) farming (b) crying
(c) livestock purposes (d) source of minerals
14. Labour are divided into how many form (a) 2 (b) 3 (c) 5 (d) 6
15. The phenomena where goods are produce in large scale is called
(a) indirect production (b) direct production (c) primary production
(d) secondary production
SECTION B
Answer three questions
1ai. Define the term Goods
ii. Elucidate the types of goods
b. What are durable goods?
2a. What do you understand by production
b. Enumerate the types of production
3a. Define indirect production
b. Name the various division of indirect production and explain one
4a. List and explain three (3) factors that determine the volume of
production?
b. List five (5) importance of production
5a. What do you understand by factors of production
b. Enumerate the factors of production

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