Neco Economics Past Questions and Answers

Question 151:

• NECO 2005

The formular (N + 1)/2 is used to determine the ____________

A. Mean
B. Median
C. Mode
D. Standard deviation
E. Mean deviation

Question 152:

• NECO 2005

When the total product starts falling, then the marginal product is ____________

A. Constant
B. Increasing
C. Maximum
D. Negative
E. Zero

Question 153:

• NECO 2005

The variance of a given set of numbers is defined as the ____________

A. Absolute value of the standard deviation
B. Square of the standard deviation
C. Square root of the standard deviation
D. Square of the mean deviation
E. Square root of the mean deviation

Question 154:

• NECO 2005

The following can be used to improve a country’s balance of payment EXCEPT

A. Anti-dumping policies
B. Decreasing taxation on personal income
C. Granting subsidies to export producers
D. Increasing import duties
E. Removing export duties

Question 155:

• NECO 2005

Which of the following is NOT a function of marketing boards in Nigeria?

A. Fixing of prices for farm produce
B. Grading of farm produce
C. Importation of farm produce
D. Marketing of farm produce
E. Price stabilization