NECO Economics Past Questions & Answers - Page 21

101.

Stock exchange market deals with

A.

Exchange of commodities

B.

Exchange of stock fish for stock

C.

Exchange of treasury bills

D.

Sales of foreign exchange

E.

Sales of second hand securities

Correct answer is E

No explanation has been provided for this answer.

102.

The following are the objectives of agricultural policies in Nigeria EXCEPT

A.

Provision of food

B.

Provision of agricultural raw materials to industrial sectors

C.

Increasing prices of agricultural inputs

D.

Creation of rural employment

Correct answer is C

No explanation has been provided for this answer.

103.

If two bags of rice were sold for N1,250 a mouth ago and two weeks later, the same amount was used to procure one bag. This simply means that the value of money is

A.

Constant

B.

Decreasing

C.

Fluctuating

D.

Increasing

E.

Proportional

Correct answer is B

No explanation has been provided for this answer.

104.

An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry

A.

Construction

B.

Conversion

C.

Manufacturing

D.

Mining

E.

Processing

Correct answer is C

No explanation has been provided for this answer.

105.

Production is said to be complete when goods and services gets to the

A.

Consumers

B.

Distributors

C.

Retailers

D.

Warehouses

E.

Wholesalers

Correct answer is A

No explanation has been provided for this answer.