Neco Economics Past Questions and Answers

Question 261:

• NECO 2009

A production possibility curve shows the ____________

A. Resources used to produce a particular commodity
B. Possible combinations of two commodities
C. Rate of inflation
D. Rate of unemployment in the country
E. Tabular illustration of production possibilities

Question 262:

• NECO 2009

A production possibility curve shows the ____________

A. Resources used to produce a particular commodity
B. Possible combinations of two commodities
C. Rate of inflation
D. Rate of unemployment in the country
E. Tabular illustration of production possibilities

Question 263:

• NECO 2009

One of the roles of industrialization in economic development of Nigeria is ____________

A. Employment generation
B. Environmental pollution
C. Target of enemy’s attack
D. Unemployment
E. Uneven development

Question 264:

• NECO 2009

Which of the following hinder(s) effective distribution of goods in Nigeria?

A. Branding and packaging of goods
B. Good transportation network
C. Large quantity of goods
D. Numerous middlemen
E. Warehousing facilities

Question 265:

• NECO 2009

The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the ____________

A. ECOWAS
B. IMF
C. OPEC
D. NNPC
E. None