Neco Economics Past Questions and Answers

Question 231:

• NECO 2009

Which of these factors causes a change in the quantity demanded of a commodity?

A. Income
B. Population
C. Price of other commodities
D. Price of the commodity concerned
E. Taste and fashion

Question 232:

• NECO 2009

One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it ____________

A. Creates ecological problems
B. Creates political unrest
C. Creates uncertainties in government revenues
D. Is a major foreign exchange earner
E. Suppresses agricultural development

Question 233:

• NECO 2009

The unit for measuring changes in prices and output is called ____________ index

A. Capital
B. Expenditure
C. Income
D. Money
E. Price

Question 234:

• NECO 2009

A firm is said to be a public joint-stock company when it ____________

A. Has unlimited liability
B. Is administered by the public
C. Is owned by the government
D. Operates as a public corporation
E. Sells its shares to members of the public

Question 235:

• NECO 2009

The growth of a country’s population is affected by ____________

A. Military might of the country
B. Number of births per thousand of the population
C. Number of people willing to be counted
D. The amount of money in circulation
E. The number of men in the population