NECO Past Questions and Answers - Page 167

831.

Which of the following is a form of business enterprise?

A.

Cartel

B.

Entrepreneurship

C.

Partnership

D.

Stock exchange

E.

Supermarket

Correct answer is C

No explanation has been provided for this answer.

832.

Taxes levied on locally manufactured goods are called

A.

Custom duties

B.

Excise duties

C.

Purchase tax

D.

Sales tax

E.

VAT

Correct answer is B

No explanation has been provided for this answer.

833.

The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the

A.

ECOWAS

B.

IMF

C.

OPEC

D.

NNPC

E.

None

Correct answer is C

No explanation has been provided for this answer.

834.

Which of the following hinder(s) effective distribution of goods in Nigeria?

A.

Branding and packaging of goods

B.

Good transportation network

C.

Large quantity of goods

D.

Numerous middlemen

E.

Warehousing facilities

Correct answer is D

No explanation has been provided for this answer.

835.

One of the roles of industrialization in economic development of Nigeria is

A.

Employment generation

B.

Environmental pollution

C.

Target of enemy’s attack

D.

Unemployment

E.

Uneven development

Correct answer is A

No explanation has been provided for this answer.