Neco Economics 2009 Past Questions and Answers

Question 46:

• NECO 2009

Economic growth can be defined as ____________

A. A rapid and sustained rise in real output per head
B. A rise in real income per head
C. An increase in technology only
D. Insufficiency in food production
E. Over population in a country

Question 47:

• NECO 2009

A monopolist is a ____________

A. Duopolist
B. Group of producers of related goods
C. Partnership business that produces a commodity with high demand
D. Single producer or seller of a commodity at cheap rate
E. Single producer or seller of a commodity that has no close substitute

Question 48:

• NECO 2009

The purchasing power of the Naira will fall when ____________

A. Worker are retrenched
B. The colour of the Naira is changed
C. The military take over
D. There is inflation
E. None

Question 49:

• NECO 2009

The process of building up country’s capacity to process raw materials for the production of goods is known as ____________

A. Firm
B. Industry
C. Industrialization
D. Location of industry
E. Localization

Question 50:

• NECO 2009

Which of the following is a function of the central bank?

A. Accepting deposits from the public
B. Agent of payment for individuals
C. Discounting bills of exchange
D. Issuing of currency
E. Provision of short term housing loans