Neco Economics Past Questions and Answers

Question 121:

• NECO 2004

The following are the main problems of distribution of essential commodities in Nigeria EXCEPT

A. Excessive demand
B. Hoarding of goods
C. Long chain of distribution
D. Poor storage facilities
E. Poor transportation network

Question 122:

• NECO 2004

The introduction of money into the economy has helped to resolve the following problems EXCEPT

A. Accessibility of needs
B. Availability of goods
C. Coincidence of wants
D. Making deferred payments
E. Measure and store of value

Question 123:

• NECO 2004

The types of unemployment that evolved the use of machines to replaces human labour is known as ____________

A. Cyclical unemployment
B. Frictional unemployment
C. Seasonal unemployment
D. Structural unemployment
E. Technological unemployment

Question 124:

• NECO 2004

To an individual, the term cost will include expenditure on the following EXCEPT

A. Clothing
B. Entertainment
C. Housing
D. Payment of school fees
E. Settling national debts

Question 125:

• NECO 2004

The assumptions of the principles of comparative cost advantage is based on

I. Absence of Trade Restrictions
II. No transport costs
III. Constant technology

A. II & III only
B. I & II only
C. I, II & III only
D. II only
E. III only