Search SchoolNGR

Saturday, 07 March 2026
Register . Login

Economics Past Questions and Answers

Neco Economics Questions

Question 116:
Demand for labour depends on the following factors EXCEPT
  • A Number of industries/enterprises
  • B Nature of industries/business enterprises
  • C Price of labour
  • D Demand for labour output and prices
  • E The period of training
View Answer & Explanation
Question 117:
The main industrial cities in Nigeria are ____________
  • A Ikeja, Kano, Onitsha and Port-Harcourt
  • B Kaduna, Dutse, Ogbomoso a Calabar
  • C Kano, Ilesa, Vadeikya and Afikpo
  • D Maiduguri, Ikote Ekiti, Moniya and Akungba
  • E Mokwa, Ijebu-ode, Warri and Gummel
View Answer & Explanation
Question 118:
The basic economics problem of what to produce arises as a result of ____________
  • A Competing demands for scarce resources
  • B Excessive supply
  • C The availability of too many experts
  • D The failure of the price system
  • E The reduction of poverty
View Answer & Explanation
Question 119:
In international trade, when payments of a country are higher than the receipts, then the balance of payment is ____________
  • A Favourable
  • B In equilibrium
  • C Perfect
  • D Unfavourable
  • E Uniform
View Answer & Explanation
Question 120:
When total utility is at maximum, then marginal utility is ____________
  • A Decreasing
  • B Increasing
  • C Maximum
  • D Negative
  • E Zero
View Answer & Explanation