O level Cameroon GCE quiz 2021 on Economics Part 1

15 Questions

Quiz Description

This quiz is based on the past question, paper 1 of economics for the Ordinary level Cameroon GCE. This part is made up of the first 15 question of the paper and with this, you better prepare for your upcoming exams

1:

A determinant of price elasticity of supply is


Correct
  • 1:
    Availability of substitutes
  • 2:
    Proportion of income
  • 3:
    Time period
  • 4:
    Habit
2:

Which of the following is the main aim of conglomerates?


Correct
  • 1:
    To diversify production
  • 2:
    To gain control of the supply of raw materials
  • 3:
    To reduce the number of market outlets
  • 4:
    To keep up with competitors
3:

The main feature of money in teh morden economy is


Correct
  • 1:
    Divisibility
  • 2:
    Stability of value
  • 3:
    Scarcity
  • 4:
    General acceptability
4:

The most important problem affecting the agricultural sector in Cameroon is:


Correct
  • 1:
    Insufficient capital
  • 2:
    Insufficient labour
  • 3:
    lack of government interest in agriculture
  • 4:
    Presence of diseases and pest
5:

.


<p>.</p>
Correct
  • 1:
    A
  • 2:
    B
  • 3:
    C
  • 4:
    D
6:

.


<p>.</p>
Correct
  • 1:
    A
  • 2:
    B
  • 3:
    C
  • 4:
    D
7:

The national debt is defined as


Correct
  • 1:
    Debt owed by the state to its citizens
  • 2:
    Debt owed by the central government to its citizens and foreigners
  • 3:
    Debt owed by the governement to foreigners
  • 4:
    Debts owed by the government to financial institutions
8:

If the initial deposit of a commercial bank is 1,000,000FCFA and the cash ration is 12.5%, the amount the bank will create as deposit wil be


Correct
  • 1:
    80,000FCFA
  • 2:
    12,500,000FCFA
  • 3:
    8,000,000FCFA
  • 4:
    7,000,000FCFA
9:

The main aim of backward verticval integration is to


Correct
  • 1:
    Acquire more market outlets
  • 2:
    Secure the supply of raw materials
  • 3:
    Gain monopoly power
  • 4:
    Increase retail shops
10:

Unemployment caused by a fall in the general level of aggregate demand is known as:


Correct
  • 1:
    Structural unemployment
  • 2:
    Cyclical unemployment
  • 3:
    Frictional unemployment
  • 4:
    Disguised unemployment
11:

Given that the value of a basket of goods was 12000FCFA in 2010 and in 2011 the same basket of goods cost 15000FCFA, the price index will ne


Correct
  • 1:
    60
  • 2:
    300
  • 3:
    15000
  • 4:
    125
12:

Which of the followig capital investments arms interese?


Correct
  • 1:
    Ordinary shares
  • 2:
    Cumulative preference shares
  • 3:
    Debentures
  • 4:
    Participating preference shares
13:

The main function of money in the modern economy is


Correct
  • 1:
    Measure of value
  • 2:
    Medium of exchange
  • 3:
    Standard of deferred payment
  • 4:
    Store of value
14:

A minimum wage legislationis best defined as:


Correct
  • 1:
    the minimum sum of money anyone should take home after all tax deductions
  • 2:
    the minimum hourly rate permitted by law
  • 3:
    The minimum number of hours worked per day
  • 4:
    The lowest day packet anyone should earn by law
15:


<p></p>
Correct
  • 1:
    A
  • 2:
    B
  • 3:
    C
  • 4:
    D

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O level Cameroon GCE quiz 2021 on Economics Part 1
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