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Neco Economics 2004 Past Questions and Answers

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Neco 2004 Economics Past Questions

Question 26:


When total utility is at maximum, then marginal utility is ____________

A. Decreasing
B. Increasing
C. Maximum
D. Negative
E. Zero


Question 27:


The following are the main problems of distribution of essential commodities in Nigeria EXCEPT

A. Excessive demand
B. Hoarding of goods
C. Long chain of distribution
D. Poor storage facilities
E. Poor transportation network


Question 28:


The introduction of money into the economy has helped to resolve the following problems EXCEPT

A. Accessibility of needs
B. Availability of goods
C. Coincidence of wants
D. Making deferred payments
E. Measure and store of value


Question 29:


The types of unemployment that evolved the use of machines to replaces human labour is known as ____________

A. Cyclical unemployment
B. Frictional unemployment
C. Seasonal unemployment
D. Structural unemployment
E. Technological unemployment


Question 30:


To an individual, the term cost will include expenditure on the following EXCEPT

A. Clothing
B. Entertainment
C. Housing
D. Payment of school fees
E. Settling national debts






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