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Economics Past Questions and Answers

Neco Economics Questions

Question 236:

Oil was first discovered in commercial quantity in ____________ State.

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A Amasoma, Bayelsa
B Bonny, Rivers
C Oloibiri, Rivers
D Igbokoda, Ondo
E Warri, Delta

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Question 237:

Price elasticity of supply measures the responsiveness of quantity supplied to ____________

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A A change in the demand for the product V
B A change in the price of the commodity
C Changes in consumers
D Changes in prices of other commodities
E Changes in suppliers income

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Question 238:

Labour force simply means the ____________

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A Demand and supply of labour
B Efficiency of labour
C Job seekers
D Unemployable population
E Working population

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Question 239:

The concentration of firms in one area is referred to as of ____________ industries.

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A Location
B Localization
C Multiplication
D Proliferation
E Pluralization

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Question 240:

Disguised unemployment is the same thing as ____________

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A Residual unemployment
B Seasonal unemployment
C Structural unemployment
D Under-employment
E Voluntary unemployment

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