Neco Commerce Past Questions and Answers

Question 86:

• NECO 2001

What is the disadvantage of foreign trade?

A. Encourages dumping
B. Encourages specialization
C. Facilitate transfer of technology
D. Makes available products that can not be produced by a country
E. Widens the world market

Question 87:

• NECO 2001

Which is NOT a public corporation?

A. National Electric Power Authority
B. National Examinations Council
C. Nigerian Airways
D. Nigerian Railway
E. Ports Authority

Question 88:

• NECO 2001

National income is

A. Excess on balance of payment
B. Excess on balance of trade
C. Income gotten from international trade
D. Money value of goods and services produced in a given period
E. Revenue available to the government

Question 89:

• 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 90:

• 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