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Friday, 06 March 2026
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Economics Past Questions and Answers

Neco Economics Questions

Question 31:
The act of cultivating land and rearing of animal for man’s use is ____________
  • A Agriculture
  • B Mono culture
  • C Forestry
  • D Aqua-science
  • E Horticulture
View Answer & Explanation
Question 32:
An economic system in which individual control the productive resources is known as ____________
  • A Capitalism
  • B Communism
  • C Freedomism
  • D Socialism
  • E Welfarism
View Answer & Explanation
Question 33:
The contribution of petroleum to the economy of nigerian is most prominent in the area of ____________
  • A Employment generation
  • B Fuel provision
  • C Infrastructural development
  • D Revenue generation
  • E Technical know-how
View Answer & Explanation
Question 34:
The Nigerian indigenization decree process involves ____________
  • A 5 phases
  • B 6 phases
  • C 4 phases
  • D 3 phases
  • E 2 phases
View Answer & Explanation
Question 35:
Transcationary motive implies, holding money
  • A For future investment
  • B For day to day expenses
  • C For unforeseen contingencies
  • D To settle previous debts
  • E To buy share in the stock exchange market
View Answer & Explanation