Neco Economics Past Questions and Answers

Question 96:

• NECO 2004

The decision of whether to use labour or capital intensive techniques in production process is a problem of ____________

A. For whom to produce
B. How to produce
C. Resource allocation
D. What to produce
E. When to produce

Question 97:

• NECO 2004

The desire to hold cash balances in order to meet expenditures which arises due to unforeseen circumstances is ____________

A. Motive
B. Aim
C. Determination
D. Self discipline
E. None of the above

Question 98:

• NECO 2004

The indices used to measure the cost of living is ____________

A. Consumption expenditure
B. National income
C. Per capital income
D. Price index
E. Savings and investment

Question 99:

• NECO 2004

In Economics, want means ____________ aspiration

A. Endless
B. Qualitative
C. Quantifiable
D. Satisfied

Question 100:

• NECO 2004

Which of the following will NOT be a barrier to international trade?

A. Communication hindrances
B. Easy conversion of currencies
C. Geographical locations
D. Ideological differences
E. Imposition of duties and quotas