NECO Past Questions and Answers - Page 222

1,106.

A firm with a total of 54 employees produced 108 tonnes of toilet tissues in 3months. What is the average production per employee?

A.

0.02 tonnes

B.

0.2 tonnes

C.

2 tonnes

D.

20 tonnes

E.

200 tonnes

Correct answer is C

No explanation has been provided for this answer.

1,107.

A one-man business is controlled by

A.

An active partner

B.

Board of trustees

C.

Board of directors

D.

Dormant partner

E.

The owner

Correct answer is E

No explanation has been provided for this answer.

1,108.

An inflation which occurs as a result of increase in production cost is known as

A.

Cost-push inflation

B.

Creeping inflation

C.

Demand-pull inflation

D.

Hyper-inflation

E.

Runaway inflation

Correct answer is A

No explanation has been provided for this answer.

1,109.

When Elasticity of Demand is greater than one, the demand is

A.

Perfectly elastic

B.

Unitary elastic

C.

Zero elastic

D.

Inelastic

E.

Elastic

Correct answer is E

No explanation has been provided for this answer.

1,110.

A development planning which takes a long range view of the economy and covers a period of 10-20 years is regarded as

A.

Comprehensive planning

B.

Indicative planning

C.

Perspective planning

D.

Regional planning

E.

Sector planning

Correct answer is A

No explanation has been provided for this answer.