Economics Exam Questions for SS1, SS2, SS3 all Term in Ms Word/PDF for Senior Secondary School

The Economics Exam Questions for SS1, SS2 or SS3 all term is available at

On this page we have uploaded a free copy of the Senior Secondary School SS2 Second Term Economics Exam Questions.

Teacher and student can now have a feel of how the Economics questions for SS1-3 look like.

Before a student is promoted into the next class, he/she is expected to pass the above subject.

Most Student do fail or perform below expectation, as a result of this, we have compiled Economics exam question for student preparing for test or examination.

The SS1, SS2 & SS3 exam questions served as a reference material and also help teacher to set test and exam question.

Economics Exam Questions Paper for SS1, SS2, SS3

Economics Exam Questions for Senior Secondary School

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Can be Edited to suit your need.
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Economics Exam Questions Paper SS1-3 – Benefit

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Download Free SS2 Economics objective/Theory Questions for second term
Link 1  Econs Exam Questions

Link 2  Econs Exam Questions


SS2 Economics Objective Questions Second Term

01. All forms of human effort put into or utilize in production is known as _____ 
(a) labour 
(b) capital 
(c) profit

02. ____ is a point or place or any means of communication whereby the seller and buyer can communicate with one another 
(a) labour 
(b) market 
(c) buyer 
(d) wages

03. ____ can be defined as the total number of person available to supply the labour for the production of economic goods and services (a) labour force 
(b) market 
(c) reward 
(d) profit

04. _____ is used to describe all different types of earnings paid to labour as a factor of production 
(a) profit 
(b) wages 
(c) punishment 
(d) A, B, C

05. The big umbrella that covers all trade union is _____ 
(a) NEPA 
(b) NLC 
(c) NRC 

06. _____ to a situation in which persons of working age, able and willing to work are unable to find a paid employment 
(a) employment 
(b) unemployment 
(c) wages 
(d) none

07. ____ is a type of unemployment which arises as a result of changes in the pattern of demand of certain commodity 
(a) seasonal 
(b) structural 
(c) casual 
(d) ghost

08. The unemployment which take place in industries whose production is subject to seasonal variation 
(a) casual 
(b) seasonal 
(c) structural
09. The unemployment which occurs when and individual works at less than his full capacity so that his productivity is below the maximum (a) under-employment 
(b) structural 
(c) casual 
(d) seasonal

10. ____ is the act of generating one’s income directly from customers 

11. What is another name for perfectly competitive economy 
(a) free trade 
(b) free market economy 
(c) price determination 
(d) mechanism

12. Equilibrium price is determined by quantity demand and quantity ____ 
(a) price 
(b) supply 
(c) price of goods 
(d) A, B, C

13. The quantity demand and quantity supplied is _____ 
(a) Price 
(b) equilibrium price 
(c) equilibrium quantity 
(d) trade

14. ____ is the amount of satisfaction a consumer derived from consuming goods and services 
(a) form utility 
(b) utility 
(c) place utility (d) trade

15. ____ refers to the change in the form or structure of a commodity during its manufacturing process in order to increase its utility 
(a) form utility
(b) time utility 
(c) place 
(d) trading

16. ____ is the change of location of a commodity from one geographical area where it has little utility to another area where its utility is higher 
(a) place utility 
(b) time utility 
(c) form utility

17. TU = AU/Q is (a) marginal utility (b) total utility (c) average Utility (d) none
18. The total Nigerian budget in 2019 is ____ (a) N8.42trn (b) N9.12trn (c) N100trn (d) N9.95trn

19. Who is the Central bank of Nigerian Governor 
(a) Godwin Emefiele 
(b) Paul Oguma 
(c) Sanusi Lamido 
(d) Okoro

20. MU= Δ in TU 
(a) TU 
(b) AU 
(c) MU 
(d) none Δ in consumption

Want more Objective Questions like this?
Get the Complete Economics Exam Questions (Obj & Theory);
In editable Ms-word format for any of the SS 1 – 3 Classes from us

What Others are downloading Exam Questions for Senior Secondary School

Theory Economics Questions for SS2


Answer all questions

1. State 5 objectives of trade union

2. Discuss;
2a) Labour market
2b) Demand for labour
2c) supply for labour
2d) trade union

3a) Discuss the concept of Unemployment.
3b) List and explain 3 types of unemployment

4a) Define dignity of labour.
4b) State 4 importance of dignity of labour.

5. If the labor force of a country is 100 million people of which 50.6 million people are employed. Calculate the unemployment rate of the country.

6. Discuss the concept “Utility”.

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