Neco Economics 2009 Past Questions and Answers

Question 16:

• NECO 2009

Disguised unemployment is the same thing as ____________

A. Residual unemployment
B. Seasonal unemployment
C. Structural unemployment
D. Under-employment
E. Voluntary unemployment

Question 17:

• NECO 2009

The following are qualities of money EXCEPT

A. Acceptability
B. Divisibility
C. Homogeneity
D. Portability
E. Rationality

Question 18:

• NECO 2009

The concept of choice in Economics refers to ____________

A. A decision between one thing and another
B. Ranking of wants in an ascending order
C. Selection of most pressing wants out of a range of alternatives
D. Ranking of wants on a table of preference
E. Separating defective commodities from non-defective ones

Question 19:

• NECO 2009

The demand for salt is ____________

A. Elastic
B. Inelastic
C. Unitary elastic
D. Both a and b

Question 20:

• NECO 2009

A major feature of capitalism is ____________

A. Collective ownership of means of production
B. Competition
C. Equality or egalitarianism
D. Redistribution of income
E. Socialization and welfare