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Economics 2002 NECO Past Questions

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6
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
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7
One of the fundamental economic problem of every society is
  • A. allocation of scarce resource
  • B. availability of market
  • C. consumption pattern of inhabitant
  • D. presence of middle man
  • E. inadequate labour force
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8
Which of these is NOT associated with the problem of internal trade?
  • A. bargaining
  • B. lack of specialization
  • C. market trade unions
  • D. natural barriers
  • E. large number of middlemen
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9
A market situation with few sellers and many buyers is called
  • A. monopoly
  • B. duopoly
  • C. oligopoly
  • D. perfect competition
  • E. monopsony
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10
In income determination theory, acceleration principles shows that
  • A. income is the cause, while investment is the effect investment
  • B. income and investment are both causes
  • C. income and investment are both effects
  • D. incomes is of on effect on investment
  • E. investment is the causes, while income is the effects
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