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Economics Past Questions and Answers

Neco Economics Questions

Question 146:

Which of the following is NOT an objective of Economic planning?

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A Achieving economic self reliance
B Achieving economic growth
C Creating employment
D Equitable allocation of resources
E Widening the income gap

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Question 147:

The following will occur when maximum price is fixed below the free market price EXCEPT that

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A Black market will be encouraged
B Excess demand will occur
C Excess supply will occur
D Rationing of commodities will occur
E Scarcity of goods will occur

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Question 148:

The following determine the level of consumption EXCEPT

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A Expectation of price changes
B Level of income
C Savings
D The rate of taxes paid
E The political climate

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Question 149:

If the standard deviation of a set of numbers is 3.6, what is the variance?

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A 12.49
B 12.69
C 12.9
D 12.96
E 12.98

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Question 150:

The recent revolution of Cassava from ordinary food crop to export crop will lead to ____________

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A Decrease in price of cassava flour
B Decrease In production of cassava
C Decrease In production of local starch
D Increase In production of other crops
E Increase in the prices of cassava products

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