NECO Past Questions and Answers - Page 44

216.

One of the barriers to foreign trade is the presence of

A.

difference in goods and services

B.

different means of transportation

C.

many society personnel

D.

tariffs on goods and services

E.

various means of production

Correct answer is D

No explanation has been provided for this answer.

217.

Which of the following invites the general public to subscribe for its shares?

A.

Co-operative

B.

Private liability company

C.

Public corporation

D.

Public liability company

E.

Sole proprietorship

Correct answer is D

No explanation has been provided for this answer.

218.

Which of the following does NOT relate to marine insurance?... policy

A.

Endowment

B.

Floating

C.

Time

D.

Valued

E.

Voyage

Correct answer is A

No explanation has been provided for this answer.

219.

......is a letter sent to the suppliers requesting details of goods offered for sale

A.

An Invoice

B.

Letter of enquiry

C.

Purchase order

D.

Requisition

E.

Quotation

Correct answer is B

No explanation has been provided for this answer.

220.

The reward for Labour as a factor of production is

A.

interest

B.

premium

C.

profit

D.

rent

E.

wage

Correct answer is E

No explanation has been provided for this answer.