Neco Commerce 2001 Past Questions and Answers

Question 41:

• NECO 2001

Production means ____________

A. Changing the form of a good at any stage from the raw material to the finished products
B. Increasing economic welfare of people by producing more goods and services
C. Moving goods from one place to another for proper use
D. The amount of satisfaction derived from the consumption of goods and services
E. The provision of goods and services which are capable of satisfying human wants

Question 42:

• NECO 2001

What is NOT a right of the consumer?

A. A healthy environment
B. Be heard
C. To be informed
D. Get value for money spent
E. Save money on food and drugs

Question 43:

• NECO 2001

The affairs of the co-operative society are in the hands of the ____________

A. Board of directors
B. Board of trustees
C. Executive members
D. Registrar of Co-operatives
E. Shareholders

Question 44:

• NECO 2001

.
C.
ln which business is profit shared amongst the shareholders on the basis of patronage?

A. Co-operative society
B. Joint stock company
C. Partnership
D. Public company
E. Sole proprietorship

Question 45:

• NECO 2001

Which of NOT a class of preference shares?

A. Cumulative
B. Debenture
C. . non-cumulative
D. Participating
E. Redeemable