Neco Economics Past Questions and Answers

Question 181:

• NECO 2007

The following methods are used in calculation of National Income EXCEPT

A. Depreciation
B. Expenditure
C. Income
D. Output
E. Value added

Question 182:

• NECO 2007

A deliberate government policy to exclude foreign participation in certain economic activity is known as ____________

A. Commercialization
B. Indigenization
C. Liberalization
D. Localization
E. Privatization

Question 183:

• NECO 2007

The following measures used to check deflation EXCEPT

A. Deficit financing
B. Improving distribution system
C. Increasing wages and salaries
D. Raising the bank rate
E. Reducing taxation

Question 184:

• NECO 2007

The creation of physical and concrete goods that can be seen and handled is ____________

A. Diminishing returns
B. Division of labour
C. Industrialization
D. Production
E. Specialization

Question 185:

• NECO 2007

Which of the following is NOT a contribution of agriculture to industrial development?

A. Provision of food for the industrial sector
B. Provision of funds for industrial development
C. Provision of raw materials
D. Supply of labour to the industrial sector
E. Supply of machinery to the industrial sector