Neco Economics 2004 Past Questions and Answers

Question 6:

• NECO 2004

Which of the following will NOT be a barrier to international trade?

A. Communication hindrances
B. Easy conversion of currencies
C. Geographical locations
D. Ideological differences
E. Imposition of duties and quotas

Question 7:

• NECO 2004

Excise duties are taxes levied on ____________

A. Goods coming into the country
B. Goods going out of the country
C. Industrial incomes
D. Locally manufactured goods
E. Selected consumer durable

Question 8:

• NECO 2004

The main differences between money market and capital market is that money markets

A. Acts as advisers to investor while capital markets teleguides
B. Are owned by individuals, while capital markets are owned by government
C. Accepts collateral, while capital markets does not accept such
D. Accepts funds while capital markets disburse fun to investors
E. Provide short term loans, while capital markets provide long-term loans

Question 9:

• NECO 2004

Which of the following is NOT a function of the wholesaler in the distributive channel?

A. Bulk breaking
B. Direct contact with end users
C. Feedback information to manufacturers
D. Public relations and advertising of products
E. Storage facilities for finished products

Question 10:

• NECO 2004

A business organization set up for the mutual benefits of member with similar interest is known as ____________

A. Cooperative society
B. Partnership
C. Private limited company
D. Public corporation
E. Public limited company