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Economics Past Questions and Answers

Neco Economics Questions

Question 121:
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
  • A Excessive demand
  • B Hoarding of goods
  • C Long chain of distribution
  • D Poor storage facilities
  • E Poor transportation network
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Question 122:
The introduction of money into the economy has helped to resolve the following problems EXCEPT
  • A Accessibility of needs
  • B Availability of goods
  • C Coincidence of wants
  • D Making deferred payments
  • E Measure and store of value
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Question 123:
The types of unemployment that evolved the use of machines to replaces human labour is known as ____________
  • A Cyclical unemployment
  • B Frictional unemployment
  • C Seasonal unemployment
  • D Structural unemployment
  • E Technological unemployment
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Question 124:
To an individual, the term cost will include expenditure on the following EXCEPT
  • A Clothing
  • B Entertainment
  • C Housing
  • D Payment of school fees
  • E Settling national debts
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Question 125:
The assumptions of the principles of comparative cost advantage is based on

I. Absence of Trade Restrictions
II. No transport costs
III. Constant technology
  • A II & III only
  • B I & II only
  • C I, II & III only
  • D II only
  • E III only
View Answer & Explanation