Neco Economics Past Questions and Answers

Question 236:

• NECO 2009

Oil was first discovered in commercial quantity in ____________ State.

A. Amasoma, Bayelsa
B. Bonny, Rivers
C. Oloibiri, Rivers
D. Igbokoda, Ondo
E. Warri, Delta

Question 237:

• NECO 2009

Price elasticity of supply measures the responsiveness of quantity supplied to ____________

A. A change in the demand for the product V
B. A change in the price of the commodity
C. Changes in consumers
D. Changes in prices of other commodities
E. Changes in suppliers income

Question 238:

• NECO 2009

Labour force simply means the ____________

A. Demand and supply of labour
B. Efficiency of labour
C. Job seekers
D. Unemployable population
E. Working population

Question 239:

• NECO 2009

The concentration of firms in one area is referred to as of ____________ industries.

A. Location
B. Localization
C. Multiplication
D. Proliferation
E. Pluralization

Question 240:

• NECO 2009

Disguised unemployment is the same thing as ____________

A. Residual unemployment
B. Seasonal unemployment
C. Structural unemployment
D. Under-employment
E. Voluntary unemployment