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Economics 2004 NECO Past Questions

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1
When total utility is at maximum, then marginal utility is
  • A. decreasing
  • B. increasing
  • C. maximum
  • D. negative
  • E. zero
View Answer & Discuss NECO 2004
2
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
  • A. excessive demand
  • B. hoarding of goods
  • C. long chain of distribution
  • D. poor storage facilities
  • E. poor transportation network
View Answer & Discuss NECO 2004
3
The introduction of money into the economy has helped to resolve the following problems EXCEPT
  • A. accessibility of needs
  • B. availability of goods
  • C. coincidence of wants
  • D. making deferred payments
  • E. measure and store of value
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4
The types of unemployment that evolved the use of machines to replaces human labour is known as
  • A. cyclical unemployment
  • B. frictional unemployment
  • C. seasonal unemployment
  • D. structural unemployment
  • E. technological unemployment
View Answer & Discuss (1) NECO 2004
5
To an individual, the term cost will include expenditure on the following EXCEPT
  • A. clothing
  • B. Entertainment
  • C. housing
  • D. payment of school fees
  • E. settling national debts
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