Neco Economics Past Questions and Answers

Question 31:

• NECO 2002

The act of cultivating land and rearing of animal for man’s use is ____________

A. Agriculture
B. Mono culture
C. Forestry
D. Aqua-science
E. Horticulture

Question 32:

• NECO 2002

An economic system in which individual control the productive resources is known as ____________

A. Capitalism
B. Communism
C. Freedomism
D. Socialism
E. Welfarism

Question 33:

• NECO 2002

The contribution of petroleum to the economy of nigerian is most prominent in the area of ____________

A. Employment generation
B. Fuel provision
C. Infrastructural development
D. Revenue generation
E. Technical know-how

Question 34:

• NECO 2002

The Nigerian indigenization decree process involves ____________

A. 5 phases
B. 6 phases
C. 4 phases
D. 3 phases
E. 2 phases

Question 35:

• NECO 2002

Transcationary motive implies, holding money

A. For future investment
B. For day to day expenses
C. For unforeseen contingencies
D. To settle previous debts
E. To buy share in the stock exchange market