Economics Second Term Continous Assessment Questions 2019/2020 Session – Senior Secondary School One ( SSS 1)

                           EDUDELIGHT SECONDARY SCHOOL

                             1 BENSON AVENUE, LEKKI PHASE 1, LAGOS.

2nd TERM CONTINUOUS ASSESSMENT TEST ( ONE)  2019/2020 SESSION

SUBJECT: ECONOMICS        CLASS:   SS1          TIME: 40 MINUTES

SECTION A

  1. Which year was the book “ the wealth of the nation” written by Adam Smith   (a) 1886  (b)  1496  (c) 1776  (d) 1576
  2. Greater inter-dependence  among workers in production is associated with  (a) utility  (b) manufacturing (c) factory workers  (d) division of labour
  3.  a man- made factor of production is referred to as  (a) labour  (b) capital  (c) land  (d) entrepreneur
  4. Division of labour leads to  (a) profit  (b) laziness  (c) specialization  (d) exchange
  5. A co-operative society is a  (a) finance house  (b) self-help business organization (c) public corporation   (d) non-democratic business organization
  6. The action of the government to forgo construction in order to provide more health facilities denotes (a) sound economic decision  (b) practicable government policy  (c) opportunity cost  (d) scale of preference
  7. Location of firms or an industry is not influenced by  (a) availability of raw materials  (b) existence of other firms (c) nearness to source of money supply  (d) government policy
  8. One advantage the sole proprietorship has over other form of business organization is  (a) availability of capital  (b) decision making  (c) large scale  (d) liability
  9. A business organization that has a maximum number of 50 persons is known as  (a) co-operative societies  (b) partnership  (c) private limited liability (d) public limited liability
  10. Which of these business organization has unlimited liability  (a) joint stock  (b) limited partnership  (c) sole proprietorship  (d) private limited company
  1. (a) What is capital (2marks)    (b). what are the importance of capital to an organization  ( 3 marks)
  2. State two advantages and three disadvantages of large scale production (5marks)

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