Neco Economics 2004 Past Questions and Answers

Question 16:

• NECO 2004

All the following are the objectives of economic planning EXCEPT to ____________

A. Reduce the rate of inflation and achieve stable value for the naira
B. Encourage inflow of public and private capital
C. Evolve a sequential political transition and enthronement of popular government
D. Reduce economic dependence on foreign nations
E. Achieve full employment

Question 17:

• NECO 2004

Points outside the production possibility curves shows ____________

A. Unequal allocation of resources among factors
B. Capital production level
C. Under utilization of resources
D. Unattainable production level
E. Effective consummation of resources

Question 18:

• NECO 2004

Which of the following factors will NOT affect supply of maize in Nigeria?

A. Extension services to farmers
B. Improve technology
C. Price of maize
D. Quantity of wheat produced
E. Weather and climatic condition

Question 19:

• NECO 2004

The unit of satisfaction dived from the consumption of an additional unit of a commodity is known as ____________

A. Average utility
B. Marginal cost
C. Marginal product
D. Marginal utility
E. Total utility

Question 20:

• NECO 2004

Which of the following is NOT a problem of population census in Nigeria?

A. Inadequate transportation
B. High birth rate
C. High cost
D. Mass illiteracy
E. Political interest