Neco Economics Past Questions and Answers

Question 146:

• NECO 2005

Which of the following is NOT an objective of Economic planning?

A. Achieving economic self reliance
B. Achieving economic growth
C. Creating employment
D. Equitable allocation of resources
E. Widening the income gap

Question 147:

• NECO 2005

The following will occur when maximum price is fixed below the free market price EXCEPT that

A. Black market will be encouraged
B. Excess demand will occur
C. Excess supply will occur
D. Rationing of commodities will occur
E. Scarcity of goods will occur

Question 148:

• NECO 2005

The following determine the level of consumption EXCEPT

A. Expectation of price changes
B. Level of income
C. Savings
D. The rate of taxes paid
E. The political climate

Question 149:

• NECO 2005

If the standard deviation of a set of numbers is 3.6, what is the variance?

A. 12.49
B. 12.69
C. 12.9
D. 12.96
E. 12.98

Question 150:

• NECO 2005

The recent revolution of Cassava from ordinary food crop to export crop will lead to ____________

A. Decrease in price of cassava flour
B. Decrease In production of cassava
C. Decrease In production of local starch
D. Increase In production of other crops
E. Increase in the prices of cassava products