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Economics Past Questions and Answers

Neco Economics Questions

Question 66:

Minimum price control is aimed at ____________

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A Increasing the size of the market
B Minimizing the profit level
C Punishing the consumers
D Protecting the consumer
E Reducing the size of the market

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Question 67:

What is meant by utility?

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A Amount of money derived by a manufacture
B A number of things a consumer will enjoy at a time
C Amount of satisfaction derive from the consumption of a commodity at a particular time
D Amount of satisfaction giving to a producer
E Total profit producers will get at a particular time

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Question 68:

The aim of indigenization policy was to ____________

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A Build more industries in the economy
B Increase the drain in foreign exchange
C Increase foreign domination of the economy
D Increase the participation of Nigerians in commerce and industry
E Send all the foreigners away from Nigeria

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Question 69:

In calculating mean one should ____________

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A Add the highest and the lowest number
B Divide the highest and the lowest number
C Divide the sum of the figure by the number of the figure
D Find the most common number
E Pick any number that has no partner

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Question 70:

A shift of the demand curve leftward from its original position indicate ____________

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A An increase in quantity demanded
B A decrease in quantity demanded
C An expansion of demand
D A fall in demand
E Price effect on demand

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