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Economics Past Questions and Answers

Neco Economics Questions

Question 126:
When a change in the demand for commodity A leads to a change in demand for commodity B in the same direction, demand for A & B is ____________
  • A Competitive demand
  • B Complementary demand
  • C Composite demand
  • D Independent demand
View Answer & Explanation
Question 127:
In a socialist economic system, decisions relating to the fundamental economic problems are taken by ____________
  • A Academicians
  • B Government
  • C Individuals
  • D Judiciary
  • E Manufacturers
View Answer & Explanation
Question 128:
The most generally accepted definition of Economics was given by ____________
  • A Adam Smith
  • B David Ricardo
  • C Lord Robinson
  • D Thomas Mathus
  • E Sam Aluko
View Answer & Explanation
Question 129:
Which of the following is true about average cost?
  • A Fixed cost/quantity
  • B Marginal + Fixed cost
  • C Quantity × Fixed cost
  • D Total cost/quantity
  • E Total cost - fixed cost Quantity
View Answer & Explanation
Question 130:
Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called ____________
  • A Bears
  • B Brokers
  • C Bulls
  • D Jobbers
  • E Stags
View Answer & Explanation