NECO Economics Questions 2021 Answers For Theory And Obj | Verified Expo

3

NECO Economics Questions 2021 and Answers, Free Objective, theory Answers for NECO (June/July) 2021 Economics examination. Verified NECO 2021 Economics objective and theory answers for sure distinction in NECO result in  Economics expo runz .The National Examinations Council (NECO) is an examination body in Nigeria that conducts the Senior Secondary Certificate Examination and the General Certificate in Education in June/July and December/January respectively.

Recommended: WAEC Timetable 2021: See Free 2021 WAEC Exam Exercise Timetable

Exam Time: NECO Economics Expo Exam Time: Wednesday 4th August Paper III & II: Objective & Essay – Economics – 10:00am- 1:00pm.

We want you to have excellent result in your NECO EXAMINATION. We understand that you are a student and as such we are providing this questions and answers for free.

Recruitmentmat is forever free NECO & WAEC free question and answer platform. We can never and will never request money from you.

Complete…100%

NECO Economics Questions 2021

NECO 2021 Economics verified questions completed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Today’s NECO Economics OBJ Answers: (2021 Answers)

For Accuracy, Answers will be loaded in this page 2 hours to the main exam. 

NECO Economics Obj Answers 2021 

Loaded…100%

ECONOMICS-OBJ
1BDCBCECDCD
11DBADBBADEE
21EADCCEAADD
31ECEBACBDBE
41BDABBBEBDD
51AACDBCCCDE

 

NECO Economics Questions 2021 Theory Answers (Expo)

Find the  correct answer for Economic expo below

Complete…100%

ECONOMICS-ESSAY
Special Bonuses; You Are To Answer Five (5) Questions Only.
Answer One (1) From Section 1 And Four
(4) From Section Two (2). Please Take Note.
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°
(1)
TABULATE
X: 20, 30, 40, 50, 60, 70
F: 10, 8, 20, 13, 6, 3
Fx: 200, 240, 800, 650, 360, 210
x-x-bar: -21, -11, -1, 4, 19, 29
(x-x-bar)²: 441, 121, 1, 81, 361, 841
F(x-x-bar)²: 4410, 968, 20, 1053, 2166, 2523
(1i)
Arithmetic mean (x-bar) = ∑fx/∑f = 2460/60 = 41
(1ii)
Variance = ∑f(x-x-bar)²= 11140/60 = 185.67
Standard deviation= √variance
= √185.67
= 13.63
(1iii)
(i)It does not give a fall range of the data
(ii)It can be hard to calculate
(iii)It only used with data where an independent variable is plotted against the frequency of it.
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°
(2a)
%∆ in Quantity dd/ %∆ in income = 100/150
= 0.667
%∆ in Qty dd = ∆ In Qty dd/ old Qty dd * 100/1
= 10/10 * 100/1
= 100
%∆ in income = ∆ in income * 100/1
= 3000/2000 * 100/1
= 150
(2b)
Positive income elasticity: This is as a result of having more quantity demand for milk as income increases
(2c)
Luxurious goods
(2d)
(i) Change in price related commodity
(ii) Change in taste and fashion
(iii) Income of the consumer
(iv) Advertisement
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°
(4a)
A wholesaler is a person whose business is buying large quantities of goods and selling them in smaller amounts
(4b)
(i)High price: Middlemen cause high price of goods by adding cost to the cost of goods
(ii) Increase in advertisement: The introduction of middlemen in the chain of distribution leads to high cost of creating awareness to the customer
(iii) Low profit: Middlemen will reduce the profit of the producer by increasing the cost of production for the producer
(iv) Decrease in production: Middlemen will lead to decrease in production of goods that will affect the price of the goods
(10a)
Internal trade is the act of buying and selling of goods and services within a geographical area WHILE External trade is the buying and selling of goods and services between two or more countries
(10b)
=SIMILARITIES=
(i)They both engage in exchange of goods and services
(ii) They both engage in trade e
(iii) They both involve in the use of money to facilitate trade
=DIFFERENCES=
*(PLS PUT IN A TABULAR FORM*)
>INTERNATIONAL TRADE
(i) Buying and selling is between two or more countries
(ii) There is language barrier
(iii) It involves more documentation
>EXTERNAL TRADE
(i) Buying and selling is within a country
(ii) There is no language barrier
(iii) It involves low documentation
[03/08, 22:20] Ogabido: (3a)
Capital formation is a term used to describe the net capital accumulation during an accounting period for a particular country
(3b)
(i) Low level of Natural income and per capital income
(ii) Lack in demand of capital
(iii) Lack in supply of capital
(iv) Lack of Economic and social overheads
(v) Lack of skilled entrepreneurs
(vi) Lack of effective fiscal policy
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°
 (4a)
A wholesaler is a person whose business is buying large quantities of goods and selling them in smaller amounts
(4b)
(i)High price: Middlemen cause high price of goods by adding cost to the cost of goods
(ii) Increase in advertisement: The introduction of middlemen in the chain of distribution leads to high cost of creating awareness to the customer
(iii) Low profit: Middlemen will reduce the profit of the producer by increasing the cost of production for the producer
(iv) Decrease in production: Middlemen will lead to decrease in production of goods that will affect the price of the goods
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°
(11)
(i)Source of revenue: To get most income into the government purse, taxes are imposed on goods coming in from other countries.
(ii)Reduction of unemployment: This discourages importation and encourage infant industries to survive which will create jobs for more unemployment people
(iii) To improve standard living: To help the citizens of a country to be self-sufficient and self reliant
(iv)Balance of payment deficit: It helps to correct a country’s balance of payment deficit in the long run
(v)Trade restriction: This enables the citizen to consume more locally made goods instead of foreign goods
°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°

Other Subjects Expo

See the below subjects

  • NECO Chemistry Questions and Answers
  • NECO Biology Questions and Answers
  • NECO Physics Questions and Answers
  • NECO Mathematics Questions and Answers
  • NECO English Language Questions and Answers
  • NECO Data Processing Questions and Answers
  • NECO Geography Questions and Answers
  • NECO Government Questions and Answers
  • NECO Agric Science Questions and Answers
  • NECO Account Questions and Answers
  • NECO Igbo Language Questions and Answers
  • NECO Yoruba Langauage Questions and Answers
  • NECO Hausa Questions and Answers
  • NECO Civic Education Questions and Answers

Play your Part As appreciation

We provide you all NECO examination subject questions and answers for free. We believe in team work and we can not succeed alone. We can only succeed because of you. So while we help you, help us do a simple task by sharing this post as many time as possible in various platform. Invite your friends.

WAEC questions and answers will also be provided for free.

For update  about NECO 2021 expo Economics Questions and Answers  or any other subject, use the comment box and we will respond to your query.

3 COMMENTS

  1. Thank you very much. Actually it is not easy to give a free answer and thanks once for the nice answer, your answers are always correct

  2. Thanks very much sir,I really do appreciate, may God reward you plentiful, sir please try making the objective to be clear while snapping it,I can’t really see what you snap,thanks sir

LEAVE A REPLY

Please enter your comment!
Please enter your name here