Economics Examination Question for Senior Secondary School (SSS)

CLASS: s. S. S. 1                                        
 subject: ECONOMICS
•   The study of economics enables the individual to (a) be misery in the spending of his money (b) determines the right market
to visit (c) derive maximum satisfaction from the money he spends (d) A &
•   Economics is a_________ science subject (a) social (b) theorectional (c) physical (d) organic
•   Which of the following features best describes peasant agriculture in West Africa? It________ (a) specializes in the production of one crop (b) is a capital intensive system of farming (c) It involves the uses of small farm tools (d) is mostly associated with tree
•   _______may be defined as a independently
administered business unit which is capable of carrying out production,
construction or distribution activities (a) firm (b) NEPA (c) INEC (d) PHCN
•   Production is said to be creation of__________ (a) food (b) utility (c) clothes (d) bread
•   Which of these is middlemen in chain of distribution (a) wholesaler (b) consumer (c) producer (d) producer
•   The factor of production which takes the initiative in combining resources for production is known as________ (a)
capital (b) entrepreneur (c) land (d) labour
•   Which of the following is not among the reasons why we study economics? (a) spiritual power (b) rational decision (c) satisfaction of want (d) production
•   Economic resources are________ (a) land (b) labour (c) capital (d) all of the above
•   80% of Nigerian are farmers (a) Yes (b) No (c) May be (d) Not yet decided
•   a. Write short notes on the following
•         Scarcity          (2marks)
•         Choice            (2marks)
•         Scale  of
preference (2marks)
b. Why is the study of economics important? (4marks)
•   The school populations in four secondary schools are as follows
School A = 340
School B = 300
School C = 250
School D = 500
Draw a graph to show the above data using
•         The bar chart method and
•         The pie chart method
•   “Every economic system tries to solve its fundamental economic problems in its own way”. Name these fundamental economic problems and briefly explain how they are solved by different economics system
•   a. Explain the following terms and show the relationship between them
•         Primary production  (2marks)
•         Secondary production (2marks)
•         Tertiary production (2marks)
b. What is division of labour? (4marks)
•   a. Define the term “Money” (3marks)
b. What are the main causes of inflation? (4marks)
c. What are the effects of inflation? (3marks)
•   Mention and explain any five sources of finances available for business organization
•   a. What is Deflation? (3marks)
b. Mention four (4) effects of deflation (3marks)
c. Mention any three (3) measures that government of your country is taken in recent times to control inflation (3marks)
CLASS: s. S. S. 2       
 subject: ECONOMICS
•   Money can be defined as (a) cash (b) printed papers (c) anything that is generally acceptable for the purchasing of goods and selling of debts (d) a precious metal
•   Which one of the following is most likely to  benefit from inflation? (a) a borrower (b) a school teacher (c) a prisoner
(d) a pensioner
•   The satisfaction derived from the use of a commodity is________ (a) demand (b) elasticity (c) utility (d) wealth
•   Which of the following doesn’t belong to the group (a) demand (b) socialism (c) communism (d) capitalism
•   The most important quality of money is that it must be (a) relatively scarce (b) generally acceptable (c) portable (d)
•   In which of the following markets does a firm have power to make super normal profit both and long run (a) imperfect market
(b) perfect market (c) ougoply (d) none of the above
•   The following are features of subsistence
agriculture except (a) little capital (b) processing of raw – material (c)
small allotments of land (d) use of crude implement
•   The full meaning of the IMF is (a) international monetary fund (b) international military force (c) international monetary financing (d) international mortgage fund
•   The following are means of reducing the
population of a country except encourage (a) family planning (b) early marriage (c) sex education (d) emigration
•   Price legislation is also known as_________ (A) price control policy (b) minimum price (c) one control legislation (d) none of the above
INSTRUCTION: Answer five questions from this part
•   a. What is business organization? (3marks)
b. List any five sources of finance available to business organization (5marks)
c. List problems of business enterprises
•   a. What is market structure? (2marks)
b. Write short note on the following
•         Industry
•         Firm
•         Money cost
•         Social cost
•   Write short note on the following heading
•         Competitive demand
•         Derived demand
•         Complementary (joint) demand
•         Composite demand
•         Independent demand
•   a. Explain the role or importance of industrialization in the economic development of your country
b. What factors determine the location of industries?
•   Write short notes on the following
•         Capitalism
•         Socialism
•         Communism
•         Mixed economic system
•   List and explain the sources of government revenue
•   a. Economics is the science which studies human behavior as a relationship between ends and scare means which have alternative uses. Discuss
b. Highlight seven reasons why we study economics
•   a. Discuss the concept unemployment. (4marks)
•   b. List and explain at least three type of unemployment

Never Miss An Update; Like Our Facebook Page, Follow Us On Twitter INSTAGRAM Channel. You can also ASK 247AMEND   Any Question Here

  • BUYJOBS -Aptitude Test Practice Questions By Clicking Here

  • GETComplete Guide on How to Get Between 10,000 to 1 million Instagram followers in less than 12 MonthsClick here

  • Get Email Address Database from 500k to 5Million US,UK,CANADA & Europe users–Click Here


Bonus Adverts=> Get Your Ads, Text links,Product Reviews,Music/Videos & Movies  Review Ads, Sponsored contents and Guest post on 247amend for only $45 Per month–Contact us Here to make payment…With Subject Line>>Bonus ADS!! 



  1. The major interior hindrances that can penalize the agent, repetitively, include indiscipline, fear of failure, get-rich-quick mentality and procrastination. First, getting over indiscipline requires an efficient work timetable, loyalty towards the earning platform and professional approach towards economic works. guarantor loans

  2. Sure thing, I well remember this test although it was quite a long time ago (the questions practically didn`t change).
    And although the economy wasn`t so preferable to me as for example chemistry or political science, I still made assignments, although not without the help of experts I got practical calculations, because the economy made it possible to get a high rating with pretty minimal effort. The most of my friends also turned to
    various help centers, but those experts I cooperated with differed not only in their professionalism but also in the quick carry out of my tasks.


Leave a Reply