NECO Economics Past Questions & Answers - Page 44

216.

Which of the following is a major export crop in Nigeria?

A.

Cocoa

B.

Coffee

C.

Copper

D.

Kola nut

E.

Soy beans

Correct answer is A

In the Nigerian agricultural sector, cocoa is one of the major export crops.

217.

In the equation MV = PT; V stand for

A.

Velocity of circulation of money

B.

Velocity of price change

C.

Volume of goods produced

D.

Volume of money

E.

Volume of transaction

Correct answer is B

No explanation has been provided for this answer.

218.

The best way of presenting data in tabular form is in

A.

Bars and columns

B.

Charts and lines

C.

Maps and rows

D.

Pictographs and histogram

E.

Rows and columns

Correct answer is C

No explanation has been provided for this answer.

219.

Which of the following is true of a perfect market situation?

A.

Price = AR = MC = AC

B.

Price = DD = MC = AC

C.

Price = AC = MC = AR

D.

Price = AR = MR = DD

E.

Price = MR but MR < AR

Correct answer is A

No explanation has been provided for this answer.

220.

The professional that view cost in term of alternatives sacrificed is the

A.

Accountant

B.

Cashier

C.

Economist

D.

Manager

E.

Tax collector

Correct answer is C

No explanation has been provided for this answer.