Neco Economics 2009 Past Questions and Answers

Question 6:

• NECO 2009

The value of money is affected by ____________

A. Consumer’s income
B. Effective demand
C. Effective supply
D. Equilibrium price
E. General price level

Question 7:

• NECO 2009

Which of these factors causes a change in the quantity demanded of a commodity?

A. Income
B. Population
C. Price of other commodities
D. Price of the commodity concerned
E. Taste and fashion

Question 8:

• NECO 2009

One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it ____________

A. Creates ecological problems
B. Creates political unrest
C. Creates uncertainties in government revenues
D. Is a major foreign exchange earner
E. Suppresses agricultural development

Question 9:

• NECO 2009

The unit for measuring changes in prices and output is called ____________ index

A. Capital
B. Expenditure
C. Income
D. Money
E. Price

Question 10:

• NECO 2009

A firm is said to be a public joint-stock company when it ____________

A. Has unlimited liability
B. Is administered by the public
C. Is owned by the government
D. Operates as a public corporation
E. Sells its shares to members of the public