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Economics Past Questions and Answers

Neco Economics Questions

Question 231:

Which of these factors causes a change in the quantity demanded of a commodity?

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A Income
B Population
C Price of other commodities
D Price of the commodity concerned
E Taste and fashion

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Question 232:

One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it ____________

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A Creates ecological problems
B Creates political unrest
C Creates uncertainties in government revenues
D Is a major foreign exchange earner
E Suppresses agricultural development

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Question 233:

The unit for measuring changes in prices and output is called ____________ index

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A Capital
B Expenditure
C Income
D Money
E Price

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Question 234:

A firm is said to be a public joint-stock company when it ____________

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A Has unlimited liability
B Is administered by the public
C Is owned by the government
D Operates as a public corporation
E Sells its shares to members of the public

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Question 235:

The growth of a country’s population is affected by ____________

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A Military might of the country
B Number of births per thousand of the population
C Number of people willing to be counted
D The amount of money in circulation
E The number of men in the population

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