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Economics 2007 NECO Past Questions

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26
Which of the following is a condition necessary
  • A. Few sellers and buyers
  • B. Free entry and exist
  • C. Homogeneous goods
  • D. Lack of preferential treatment
  • E. Many callers and buyers
View Answer & Discuss (3) NECO 2007
27
Economics is regarded as a social science because It
  • A. helps people to be acceptable In the society
  • B. Is associated with social dubs
  • C. is used by sociologist
  • D. studies human behavior
  • E. uses controlled experiment
View Answer & Discuss NECO 2007
28
If the price Index of export is 140% and import is 200%, what is
  • A. 60
  • B. 70
  • C. 100
  • D. 140
  • E. 280
View Answer & Discuss (3) NECO 2007
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29
Which of the following is NOT a feature of land?
  • A. Free gift of nature
  • B. Fixed in supply
  • C. Geographically immobile
  • D. Returns on land is wages
  • E. Subject to law of diminishing returns
View Answer & Discuss NECO 2007
30
The first oil refinery in Nigeria was established at
  • A. Alesa Eleme
  • B. Araromi
  • C. Kaduna
  • D. Oloibiri
  • E. Warri
View Answer & Discuss (1) NECO 2007
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