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Economics 2007 NECO Past Questions

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1
Which of the following is NOT an advantage of localization of industry?
  • A. Availability of social amenities
  • B. Development of subsidiary industries
  • C. Highly organized markets
  • D. supply of skilled labour
  • E. traffic De-congestion
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2
If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is
  • A. balanced
  • B. deficit
  • C. restricted
  • D. surplus
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3
Which of the following is an advantage of free enterprise economy?
  • A. Allocates resources better
  • B. Avoids extreme Inequality of income
  • C. Full employment
  • D. It is very competent In providing vital social services
  • E. No need of employing a host of officials to allocate resources
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4

A tax system in which the rich pay a higher percentage of income as tax than the poor is known as

  • A. capital gains tax
  • B. progressive taxation
  • C. proportional taxation
  • D. regressive taxation
  • E. sales tax
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5

Population density refers to

  • A. total population
  • B. the total population divided by the total area of land
  • C. the total area of land divided by the total population
  • D. the population ratio of male and female
  • E. optimum Population level
View Answer & Discuss (2) NECO 2007
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