NECO Economics Past Questions & Answers - Page 5

21.

Disguised unemployment is the same thing as

A.

Residual unemployment

B.

Seasonal unemployment

C.

Structural unemployment

D.

Under-employment

E.

Voluntary unemployment

Correct answer is D

No explanation has been provided for this answer.

22.

The concentration of firms in one area is referred to as of ……………. industries.

A.

Location

B.

Localization

C.

Multiplication

D.

Proliferation

E.

Pluralization

Correct answer is B

No explanation has been provided for this answer.

23.

Labour force simply means the

A.

Demand and supply of labour

B.

Efficiency of labour

C.

Job seekers

D.

Unemployable population

E.

Working population

Correct answer is E

No explanation has been provided for this answer.

24.

Price elasticity of supply measures the responsiveness of quantity supplied to

A.

A change in the demand for the product V

B.

A change in the price of the commodity

C.

Changes in consumers

D.

Changes in prices of other commodities

E.

Changes in suppliers income

Correct answer is B

No explanation has been provided for this answer.

25.

Oil was first discovered in commercial quantity in ……….. State

A.

Amasoma, Bayelsa

B.

Bonny, Rivers

C.

Oloibiri, Rivers

D.

Igbokoda, Ondo

E.

Warri, Delta

Correct answer is C

No explanation has been provided for this answer.