Neco Economics 2003 Past Questions and Answers

Question 21:

• NECO 2003

Central bank of Nigerian started operation ____________

A. 1958
B. 1959
C. 1960
D. 1963
E. 1973

Question 22:

• NECO 2003

Minimum price control is aimed at ____________

A. Increasing the size of the market
B. Minimizing the profit level
C. Punishing the consumers
D. Protecting the consumer
E. Reducing the size of the market

Question 23:

• NECO 2003

What is meant by utility?

A. Amount of money derived by a manufacture
B. A number of things a consumer will enjoy at a time
C. Amount of satisfaction derive from the consumption of a commodity at a particular time
D. Amount of satisfaction giving to a producer
E. Total profit producers will get at a particular time

Question 24:

• NECO 2003

The aim of indigenization policy was to ____________

A. Build more industries in the economy
B. Increase the drain in foreign exchange
C. Increase foreign domination of the economy
D. Increase the participation of Nigerians in commerce and industry
E. Send all the foreigners away from Nigeria

Question 25:

• NECO 2003

In calculating mean one should ____________

A. Add the highest and the lowest number
B. Divide the highest and the lowest number
C. Divide the sum of the figure by the number of the figure
D. Find the most common number
E. Pick any number that has no partner