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Economics 2007 NECO Past Questions

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21
The following measures used to check deflation EXCEPT
  • A. deficit financing
  • B. improving distribution system
  • C. increasing wages and salaries
  • D. raising the bank rate
  • E. reducing taxation
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22
The creation of physical and concrete goods that can be seen and handled Is
  • A. diminishing returns
  • B. division of labour
  • C. Industrialization
  • D. production
  • E. specialization
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23

Which of the following is NOT a contribution of agriculture to industrial development?

  • A. provision of food for the industrial sector
  • B. Provision of funds for industrial development
  • C. Provision of raw materials
  • D. Supply of labour to the industrial sector
  • E. supply of machinery to the industrial sector
View Answer & Discuss (1) NECO 2007
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24
Branding and packaging of goods Is the function of
  • A. brokers
  • B. consumers
  • C. manufactures
  • D. retailers
  • E. wholesalers
View Answer & Discuss (2) NECO 2007
25
The solution to problem of how to produce in a capitalist economy is solved by
  • A. combining aid labour means of production
  • B. the producers involves
  • C. using capital Intensive method of production
  • D. using labour intensive method of production
  • E. using the method of production with the least cost
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