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Economics Past Questions and Answers

Neco Economics Questions

Question 26:

The demand for labour in an economy is a depiction of ____________

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A Competitive demand
B Composite demand
C Complementary demand
D Deductive demand
E Derived demand

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Question 27:

In production, total cost comprises of ____________

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A Averages cost and marginal cost
B Variable cost and averages cost
C Variable cost and fixed cost
D Marginal cost and variable cost
E Fixed cost and averages cost

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Question 28:

The 1962-1968 development plan in nigerian failed because of ____________

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A Absence of indigenous bank
B Higher exchange rate
C Non availability of finance house
D Movement of colonial masters
E Over dependency on foreign capital

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Question 29:

The main function of retailer in the distribution channel is ____________

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A Advertising the product on behalf of manufacturers
B Bulk breaking
C Branding and packaging of good
D Direct customer services
E Storage facilities for finished products

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Question 30:

If government in a fiscal year has its revenue receipts less than the expenditure, such country is having ____________

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A Balanced budget
B Deficit budget
C Favorable budget
D Surplus budget
E Unfavorable budget

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