Economics 2004 Neco Past Questions and Answers

Question 26 :

• NECO 2004

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

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

Question 27 :

• NECO 2004

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 :

• NECO 2004

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 :

• NECO 2004

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 :

• NECO 2004

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