Neco Economics Past Questions and Answers

Question 111:

• NECO 2004

Points outside the production possibility curves shows ____________

A. Unequal allocation of resources among factors
B. Capital production level
C. Under utilization of resources
D. Unattainable production level
E. Effective consummation of resources

Question 112:

• NECO 2004

Which of the following factors will NOT affect supply of maize in Nigeria?

A. Extension services to farmers
B. Improve technology
C. Price of maize
D. Quantity of wheat produced
E. Weather and climatic condition

Question 113:

• NECO 2004

The unit of satisfaction dived from the consumption of an additional unit of a commodity is known as ____________

A. Average utility
B. Marginal cost
C. Marginal product
D. Marginal utility
E. Total utility

Question 114:

• NECO 2004

Which of the following is NOT a problem of population census in Nigeria?

A. Inadequate transportation
B. High birth rate
C. High cost
D. Mass illiteracy
E. Political interest

Question 115:

• NECO 2004

A negative effect of the discovery of petroleum on the Nigerian economy is ____________

A. Conversion of the economy into a mono product type
B. Development of infrastructures
C. Encouragement of international recognition
D. Provision of job opportunities
E. Rapid industrialization