Economics 2005 NECO Past Questions

36

When an increase in the price of a commodity lead to a fall In the demand for aNOTher, the demand for the two commodities are said to be

A. abnormal
B. competitive
C. composite
D. derived
E. joint

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37

Production is said to be complete when goods and services gets to the

A. consumers
B. distributors
C. retailers
D. warehouses
E. wholesalers

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38

An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry.

A. construction
B. conversion
C. manufacturing
D. mining
E. processing

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39

If two bags of rice were sold for N1,250 a mouth ago and two weeks later, the same amount was used to procure one bag. This simply means that the value of money is

A. constant
B. decreasing
C. fluctuating
D. increasing
E. proportional

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40

The following are the objectives of agricultural policies in Nigeria EXCEPT

A. provision of food
B. provision of agricultural raw materials to industrial sectors
C. increasing prices of agricultural Inputs
D. creation of rural employment

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Economics 2005 NECO Past Questions

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