Neco Economics 2007 Past Questions and Answers

Question 16:

• NECO 2007

The theory of absolute advantage was propounded by ____________

A. Adam Smith
B. David Ricardo
C. Irving Fisher
D. JB Kynes
E. Thomas Malthus

Question 17:

• NECO 2007

The following are the objectives of economic planning EXCEPT

A. Achieving balanced growth
B. Diversification of the economy
C. Creation of more employment opportunities
D. Equitable allocation of resources
E. Rapid population growth

Question 18:

• NECO 2007

The following are bye-products of crude oil EXCEPT

A. Bitumen
B. Kerosene
C. Paraffin wax
D. Perfume
E. Petrol

Question 19:

• NECO 2007

The following are types of monopolies EXCEPT

A. Cartels
B. Holding companies
C. Syndicates
D. Thrifts
E. Trusts

Question 20:

• NECO 2007

Standard deviation can be determined by the square root of the ____________

A. Mean
B. Mean deviation
C. Mode
D. Variance
E. Variance divided by the mean