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Economics Past Questions and Answers

Neco Economics Questions

Question 261:

A production possibility curve shows the ____________

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A Resources used to produce a particular commodity
B Possible combinations of two commodities
C Rate of inflation
D Rate of unemployment in the country
E Tabular illustration of production possibilities

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Question 262:

A production possibility curve shows the ____________

SchoolNGR Classroom

A Resources used to produce a particular commodity
B Possible combinations of two commodities
C Rate of inflation
D Rate of unemployment in the country
E Tabular illustration of production possibilities

View Answer & Explanation

Question 263:

One of the roles of industrialization in economic development of Nigeria is ____________

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A Employment generation
B Environmental pollution
C Target of enemy’s attack
D Unemployment
E Uneven development

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Question 264:

Which of the following hinder(s) effective distribution of goods in Nigeria?

SchoolNGR Classroom

A Branding and packaging of goods
B Good transportation network
C Large quantity of goods
D Numerous middlemen
E Warehousing facilities

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Question 265:

The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the ____________

SchoolNGR Classroom

A ECOWAS
B IMF
C OPEC
D NNPC
E None

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