Neco Economics 2007 Past Questions and Answers

Question 26:

• NECO 2007

The Industrial strategy of producing locally those goods that could have been imported is known as ____________

A. Balance growth
B. Export promotion
C. Import substitution
D. Industrialization
E. Urbanization

Question 27:

• NECO 2007

Which of the following Is NOT a function of Merchant Bank

A. Helps public companies to issue new shares
B. Provision of medium and long-term loans
C. They accept bills of exchange
D. They guarantee the buying of shares
E. They implement government monetary policies

Question 28:

• NECO 2007

Goods that are useful, scarce and can command price are called ____________ goods.

A. Capital
B. Consumer
C. Economic
D. Free
E. Scarce

Question 29:

• NECO 2007

The equation MV PT is known as ____________

A. Demand and supply equation
B. Equilibrium equation
C. Equation of exchange
D. Money supply equation
E. Price index numbers

Question 30:

• NECO 2007

Plantation farming can best be defined as cultivation of ____________

A. Crops using hoes and cutlasses for farming
B. Food crops for personal consumption
C. Food for use by the family
D. Large scale farms of cash crops
E. Livestock for commercial purposes