Neco Economics Past Questions and Answers

Question 136:

• NECO 2005

Which of the following is the correct order in the chain of distribution?

A. Consumer —> Distributor → Retailer → Producer
B. Producer → Consumer → Retailer → Wholesaler
C. Producer → Wholesaler → Retailer → Consumer
D. Retailer → Consumer → Producer → Wholesaler
E. Wholesaler → Retailer → Producer → Consume

Question 137:

• NECO 2005

The following are rewards for factors of production EXCEPT

A. Interest
B. Profit
C. Rent
D. Subsidy
E. Wages

Question 138:

• NECO 2005

Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds

A. As much to TR as to TC
B. Less to TR as to TC
C. Less to TC than to TR
D. More to TC than to TR
E. More to TR than to T

Question 139:

• NECO 2005

The use of tax and expenditure policy to regulate the economy is known as ____________

A. Deregulation
B. Fiscal policy
C. Monetary policy
D. Physical measures
E. Structural adjustment

Question 140:

• NECO 2005

If the population of a school is 600 and 60% are In JSS, how many students are in SSS?

A. 204
B. 224
C. 240
D. 244
E. 248