NECO Commerce Past Questions & Answers - Page 64

316.

What is NOT a right of the consumer?

A.

a healthy environment

B.

be heard

C.

to be informed

D.

get value for money spent

E.

save money on food and drugs

Correct answer is E

No explanation has been provided for this answer.

317.

Production means

A.

changing the form of a good at any stage from the raw material to the finished products

B.

increasing economic welfare of people by producing more goods and services

C.

moving goods from one place to another for proper use

D.

the amount of satisfaction derived from the consumption of goods and services

E.

he provision of goods and services which are capable of satisfying human wants

Correct answer is E

No explanation has been provided for this answer.

318.

National income is

A.

excess on balance of payment

B.

excess on balance of trade

C.

income gotten from international trade

D.

money value of goods and services produced in a given period

E.

revenue available to the government

Correct answer is D

No explanation has been provided for this answer.

319.

Which is NOT a public corporation?

A.

National Electric Power Authority

B.

National Examinations Council

C.

Nigerian Airways

D.

Nigerian Railway

E.

Ports Authority

Correct answer is B

No explanation has been provided for this answer.

320.

What is the disadvantage of foreign trade?

A.

encourages dumping

B.

encourages specialization

C.

facilitate transfer of technology

D.

makes available products that can not be produced by a country

E.

widens the world market

Correct answer is A

No explanation has been provided for this answer.