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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 market
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 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 65 years
B) 18 to 60 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 unwilling to work
C) People between 18 to 65
D) Children of school age
  • 5. The ability of labour to increase output without increasing the quantity of labour is
A) Labour market
B) Efficiency of labour
C) Inefficiency of labour
D) Mobility of labour
  • 6. There are ----- types of labour
A) Five
B) Eight
C) Two
D) Three
  • 7. ------ is a way in which labour can be improved
A) Efficient management
B) Influence of government
C) Inadequate management
D) Language barriers
  • 8. A factor affecting geographical mobility of labour is
A) Efficient management
B) Discrimination
C) Personal reasons
D) Weather conditions
  • 9. The most populated continent in the world is
A) Australia
B) Asia
C) Africa
D) Antarctica
  • 10. The head count of all nationals of a country at a particular time is
A) Population
B) Population count
C) None of the above
D) Population sensor
  • 11. Types of population census include
A) De mure and De facto
B) De facto and De jure
C) De facto and De more
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 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) Money
B) Payment
C) Coins
D) Trade by barter
  • 14. ------ is a function of money
A) Durability
B) Acceptability
C) Portability
D) Medium of exchange
  • 15. The following are types of money except
A) Legal tender
B) Coins
C) goods
D) Bank note
  • 16. Money has solved the problem of ---------
A) Denomination
B) Deferred payment
C) Trade by barter
D) Double coincidence of wants
  • 17. There are ------- main types of inflation
A) Six
B) Three
C) Four
D) Eight
  • 18. ------ is a cause of deflation
A) Budget surplus
B) Increase in salaries and wages
C) Increased demand
D) War
  • 19. One of the general effects of deflation is
A) Creditors gain
B) Employment
C) Encouraged import
D) Discouraged exports
  • 20. One of the ways of controlling deflation is
A) Reduces production
B) Economic stagnation
C) Reduction in taxation
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 remains stable
B) The rate at which population increases
C) The rate at which population fluctuates
D) The rate at which population decreases
  • 23. What factors influence population growth?
A) Only birth rate
B) Only economic factors
C) Only migration
D) Birth rate, death rate, and migration
  • 24. What is overpopulation?
A) When the population is optimal
B) When the population is decreasing
C) When the population is too small
D) When the population exceeds the carrying capacity of the environment
  • 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 growth of rural populations
D) The movement of people from rural to urban areas
  • 27. What are the benefits of urbanization?
A) Decreased economic growth
B) Increased access to education, healthcare, and job opportunities
C) Increased poverty and inequality
  • 28. What is the impact of population growth on the environment?
A) No impact
B) Variable impact
C) Negative impact
D) Positive impact
  • 29. What is the relationship between population growth and economic development?
A) Complex relationship
B) Positive relationship
C) No relationship
D) Negative relationship
  • 30. What is the purpose of population census?
A) To count the number of people in a given area
B) All of the above
C) To plan and allocate resources
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 consumption of goods and services
D) The export of goods and services
  • 32. What is industrialization?
A) The process of stagnant industries in a country or region
B) The process of importing goods and services
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 poverty and inequality
C) Increased economic growth, job creation, and improved standard of living
  • 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 production of raw materials
C) The consumption of finished goods
D) The distribution of finished goods
  • 36. What is secondary industry?
A) The production of raw materials
B) The consumption of finished goods
C) The processing of raw materials into finished goods
D) The distribution of finished goods
  • 37. What is tertiary industry?
A) The production of raw materials
B) The provision of services
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 reduce productivity and efficiency
B) To increase productivity and efficiency
C) To have no impact on productivity and efficiency
D) To increase costs and reduce competitiveness
  • 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 solely rely on market forces
B) To ignore industrial development
C) To restrict industrial development
D) To provide infrastructure, incentives, and institutional support
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