NECO Economics Past Questions & Answers - Page 33

161.

Which of the following will NOT be a barrier to international trade?

A.

Communication hindrances

B.

Easy conversion of currencies

C.

Geographical locations

D.

Ideological differences

E.

Imposition of duties and quotas

Correct answer is B

No explanation has been provided for this answer.

162.

In Economics, want means…………aspiration

A.

Endless

B.

Qualitative

C.

Quantifiable

D.

Satisfied

Correct answer is A

No explanation has been provided for this answer.

163.

The indices used to measure the cost of living is

A.

Consumption expenditure

B.

National income

C.

Per capital income

D.

Price index

E.

Savings and investment

Correct answer is D

No explanation has been provided for this answer.

164.

The desire to hold cash balances in order to meet expenditures which arises due to unforeseen circumstances is

A.

Motive

B.

Aim

C.

Determination

D.

Self discipline

E.

None of the above

Correct answer is A

No explanation has been provided for this answer.

165.

The decision of whether to use labour or capital intensive techniques in production process is a problem of

A.

For whom to produce

B.

How to produce

C.

Resource allocation

D.

What to produce

E.

When to produce

Correct answer is B

No explanation has been provided for this answer.