NECO Past Questions and Answers - Page 262

1,306.

The willingness of an individual backed up with purchasing power at a given time is

A.

Demand

B.

Desire

C.

Effective demand

D.

Utility

E.

Want

Correct answer is C

No explanation has been provided for this answer.

1,307.

Which of the following factors will NOT account for an outward shift of production possibility curve?

A.

Budgeting and planning based on expectations

B.

Expansion in employment

C.

Discovering and exploration of new resources

D.

Introduction of improved production techniques

E.

Skill improvement through education and training

Correct answer is A

No explanation has been provided for this answer.

1,308.

If commodities A & B are jointly demanded, what will be the effect of an increase in the price of A on the demand for commodity B?

A.

Decrease in demand for commodity B

B.

Decrease in price of commodity B

C.

Demand for commodity B remain constant

D.

Increase in demand for commodity B

E.

Increase in the price of commodity B

Correct answer is A

No explanation has been provided for this answer.

1,309.

The middle value of an array figure arranged in descending order is referred to as the

A.

Equation

B.

Mean

C.

Median

D.

Mode

E.

Variance

Correct answer is C

No explanation has been provided for this answer.

1,310.

What is the median term in the distribution below; 14, 13, 29. 15, 13, 17, 12.

A.

12

B.

13

C.

14

D.

15

E.

29

Correct answer is C

No explanation has been provided for this answer.