NASIHA ACADEMY EDUCATIONAL SERVICES

FIRST TERM EXAMINATION 2023/2024

SUBJECT: ECONOMICS
CLASS: SSS 2
Instruction: Answer all questions
1. ________ is define as the satisfaction that a consumer derived from
consuming a particular commodity (a) want (b) commodity (c) utility
(d) production
2. The change in structure of commodity is refers to as (a) place utility
(b) time utility (c) average utility (d) form utility
3. The various form or categories are types of utility except (a) medium
utility (b) place utility (c) time utility (d) form utility
4. An additional satisfaction derived from consuming a commodity is
considered (a) total utility (b) final utility (c) average utility
(d) marginal utility
5. A point at which satisfaction is not derived from commodity
consumption is term (a) consumer surplus (b) utility maximization
(c) diminishing marginal utility (d) indifference utility
6. One of this is not a factor affecting demand (a) price (b) weather
(c) natural disaster (d) time flight
7. The following are types of demand except (a) derived demand
(b) purchase demand (c) competitive demand (d) composite demand
8. _______ is seen as a demand that occur as a result of other
demands commodity
9. ________ is seen as a demand that are complementary (a) joint
demand (b) composite demand (c) competitive demand (d) stock
demand
10. Increase of population area lead to higher demand True or False
11. ________ is seen as the quantity of goods a producer is able to sale
at alternative price (a) effectual (b) demand (c) supply (d) poly
marketing
12. This law state that the lower the price of commodity the lower the
quantity, sale or produce (a) Law of final arithmetic (b) Law of supply
(c) Law of marginal utility (d) Law of demand
13. This law state that the lower the price of commodity the higher the
quantity demanded (a) law of demand (b) law of diminishing return
(c) law of pascal (d) law of supply
14. ______ is seen as a situation where two commodities are fairly close
substitutes for each other (a) Composite demand (b) Competitive
demand (c) Joint demand (d) Complementary demand
15. One of this leads to changes in an quantity demanded (a) prices
equilibials (b) increase in quantity demand (c) abnormal demand
(d) rightward shift
16. ________ are seen as human efforts skilled or unskilled put towards
production of goods and services (a) labour forces (b) market
(c) labour (d) immigration
17. ________ is seen as the total number of persons available to supply
the labour for goods and service production (a) mobility (b) labour
market (c) labour (d) laboru forces
18. This is defined as any means of communication whereby the buyer
and seller can communicate with one another for exchange of
services (a) market (b) industries (c) school (d) hospital
19. This refers to a situation where a labourer leaves one occupation to
another (a) geographical mobility of labour (b) occupational mobility
of labour (c) system mobility of labour (d) brain drain mobility of
labour
20. The difference between amount of consumer budget to pay for
particular commodity is called (a) consumer want (b) consumer
preference (c) consumer surplus (d) consumer liability
 SECTION B (ESSAY)
1a. Define Labour Force
b. State and explain three (3) factors affecting the labour forces
2a. What do you understand by mobility of labour?
b. Itemize the types of mobility of labour
3a. Define Utility
b. State the types of utility and explain at least two (2)
4ai. State the Law of Diminishing Marginal Utility
ii. What is Demands
b. Define Consumer Surplus
5a. State the Law of Supply
b. Itemize five (5) factors affecting the supply rate