Search SchoolNGR

Economics Past Questions and Answers

Neco Economics Questions

Question 166:

The system of farming which involves the use of a large hectare of land planted with economic crops is known as ____________

SchoolNGR Classroom

A Cooperative farming
B Mechanized farming
C Peasant farming
D Plantation farming
E Tree planting

View Answer & Explanation

Question 167:

Which of the following is NOT a positive contribution a petroleum to Nigeria economy?

SchoolNGR Classroom

A Development of bat infrastructures
B Increase in National income
C Major employer of labour
D Major foreign exchange earned
E Turning the nation to mono-product economy

View Answer & Explanation

Question 168:

Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?

SchoolNGR Classroom

A Coordinating and unifying petroleum policies of member countries
B Ensuring efficient and regular supply of oil to the two market
C Raising the revenue of member countries from oil through price increase
D Refining of petroleum products in member countries
E Stabilizing oil prices putting a production ceiling

View Answer & Explanation

Question 169:

A business formation with a minimum of two and maximum of twenty persons is called ____________

SchoolNGR Classroom

A Cooperative society
B Joint stock company
C One man business
D Partnership
E Public corporation

View Answer & Explanation

Question 170:

Which of the following is NOT a function of the IMF?

SchoolNGR Classroom

A Assisting member countries in printing and issuing their currency
B Exchange rate stabilization
C Promoting international monetary cooperation
D Providing financial aid to members experiencing balance of payment difficulties
E Serving as a clearing house f member countries

View Answer & Explanation

Stay Updated

Follow us on:

Subjects