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Economics 2003 NECO Past Questions

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46
The central point of the Malthusian theory is that
  • A. everybody should become a farmer
  • B. government should provide enough accommodation and food
  • C. increasing population will get enough food
  • D. population increase in geometric progression while food arithmetic progression
  • E. wages has nothing to do with cost of living
View Answer & Discuss (3) NECO 2003
47

Which of the following is NOT a factor determining supply?

  • A. cost of production
  • B. climatic condition or weather
  • C. income of the producers
  • D. number of producers
  • E. technological development
View Answer & Discuss (2) NECO 2003
48
Central bank of Nigerian started operation
  • A. 1958
  • B. 1959
  • C. 1960
  • D. 1963
  • E. 1973
View Answer & Discuss (2) NECO 2003
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49
Minimum price control is aimed at
  • A. increasing the size of the market
  • B. minimizing the profit level
  • C. punishing the consumers
  • D. protecting the consumer
  • E. reducing the size of the market
View Answer & Discuss NECO 2003
50
What is meant by utility?
  • A. amount of money derived by a manufacture
  • B. A number of things a consumer will enjoy at a time
  • C. amount of satisfaction derive from the consumption of a commodity at a particular time
  • D. amount of satisfaction giving to a producer
  • E. total profit producers will get at a particular time
View Answer & Discuss NECO 2003
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