NASIHA ACADEMY EDUCATIONAL SERVICES

2nd TERM EXAMINATION 2023

SUBJECT: ECONOMICS
CLASS: SSS 1
Instruction: Answer all question
1. ________ is seen as a statistical information that give the middle of
centre or average of a set of data (a) harmonic mean (b) quadratic
mean (c) mode (d) measure of central tendency
2. ________ is define as a statistical average of a series of figures or
value (a) median (b) arithmetic mean (c) quadrat (d) geometric
mean
3. Calculate the arithmetic mean for the score of eight student in NECO
economic exam in 2022. The scores are 14, 18, 24, 16, 30, 12, 20
and 10 (a) 16 (b) 12 (c) 14 (d) 18
4. ________ is the particular time an event occur (a) distribution
(b) frequency (c) mean (d) polygon
5. ________ is define as the average which is the middle number or
value when arranged in magnitude (a) mode (b) median (c)
frequency (d) mean
6. Find the median of the following numbers 20, 8, 12, 8, 10, 14, 18, 5
(a) 11 (b) 6 (c) 7 (d) 8
7. _________ is define as the most frequently occurring number in a set
of numbers or data (a) mean (b) quadrat (c) mode (d) geometry
8. _________ is seen as a legal entity or person created by the
association of number of people (a) production (b) goods (c) capital
(d) company
 9. The types of company are (a) gold company (b) manufacturing
company (c) limited liability company & unlimited liability (d) poultry
company
10. One of this is a classification of limited liability company (a) private
limited liability (b) systematic limited liability (c) mono limited liability
(d) created limited liability
11. One of the following is a formation of a limited liability company
(a) contents of prospectus (b) capital availability (c) document
(d) preferences
12. Individual portion of the company capital owned by shareholder is
called (a) document (b) consumption (c) production (d) share
13. The type of share are (a) redeemable & cumulative (b) participating
(c) preference & ordinary (d) payment & repayment
14. One of the following is a feature of preference share (a) salary
(b) eating money (c) no voting right (d) computation
15. ________ is seen as the real owners of the business (a) deferred
share (b) preferred share (c) ordinary share (d) equity
SECTION B
Attempt all questions
1a. Define an Arithmetic Mean?
b. Calculate the arithmetic mean for the score of eight students in NECO
economic exam in 2021, the scores are 14, 18, 24, 16, 30, 12, 20 10
2a. What do you understand by frequency
b. Calculate the mean of the following distribution
8,16,24,8,12,18,24,10,16,20,24,24,12,24,12,16,24,18,18
3a. What is a Company?
b. State the two types of company and explain one
4a. Enumerate the differences between private and public limited liability
b. Define Share