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Economics 2009 NECO Past Questions

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11
Economic growth can be defined as
  • A. a rapid and sustained rise in real output per head
  • B. A rise in real income per head
  • C. an increase in technology only
  • D. insufficiency in food production
  • E. over population in a country
View Answer & Discuss (1) NECO 2009
12
A monopolist is a
  • A. duopolist
  • B. group of producers of related goods
  • C. partnership business that produces a commodity with high demand
  • D. single producer or seller of a commodity at cheap rate
  • E. single producer or seller of a commodity that has no close substitute
View Answer & Discuss NECO 2009
13
The purchasing power of the Naira will fall when
  • A. worker are retrenched
  • B. the colour of the Naira is changed
  • C. the military take over
  • D. there is inflation
  • E. none
View Answer & Discuss (1) NECO 2009
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14
The process of building up country’s capacity to process raw materials for the production of goods is known as
  • A. firm
  • B. industry
  • C. industrialization
  • D. location of industry
  • E. localization
View Answer & Discuss (1) NECO 2009
15
Which of the following is a function of the central bank?
  • A. Accepting deposits from the public
  • B. Agent of payment for individuals
  • C. Discounting bills of exchange
  • D. Issuing of currency
  • E. Provision of short term housing loans
View Answer & Discuss (2) NECO 2009
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