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Neco Economics Past QuestionsQuestion 126:When a change in the demand for commodity A leads to a change in demand for commodity B in the same direction, demand for A & B is ____________ A. Competitive demand B. Complementary demand C. Composite demand D. Independent demand Question 127:In a socialist economic system, decisions relating to the fundamental economic problems are taken by ____________ A. Academicians B. Government C. Individuals D. Judiciary E. Manufacturers Question 128:The most generally accepted definition of Economics was given by ____________ A. Adam Smith B. David Ricardo C. Lord Robinson D. Thomas Mathus E. Sam Aluko Question 129:Which of the following is true about average cost? A. Fixed cost/quantity B. Marginal + Fixed cost C. Quantity × Fixed cost D. Total cost/quantity E. Total cost - fixed cost Quantity Question 130:Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called ____________ A. Bears B. Brokers C. Bulls D. Jobbers E. Stags |
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