by Sunday | May 5 | Economics NECO
A.ACTC B. TCAC C. TCAVC D. TCMC E. TCQ Correct Answer: Option D – TCMC Explanation Average cost. In economics, average cost and/or unit cost is equal to total cost divided by the number of goods produced (the output quantity, Q). It is also equal to the sum of...
by Sunday | May 5 | Economics NECO
A. crop farming B. drilling C. fishing D. forestry E. livestock farming Correct Answer: Option B – drilling
by Sunday | May 5 | Economics NECO
A. circular chart B. component chart C. histogram D. pictograph E. pie chart Correct Answer: Option E – pie chart
by Sunday | May 5 | Economics NECO
A. does not concern itself with savings and investment B. has a great ability to generate foreign exchange from investment C. has greater opportunity to receive large income from investment D. invests in income generating industries E. has trade connection with other...
by Sunday | May 5 | Economics NECO
A. business risks are borne by the buyers B. capital is provided by the public C. control and management of the business is in the hands of customer D. the business is owned and run by government E. The main aim of setting up the business is to maximize profit Correct...
by Sunday | May 5 | Economics NECO
A. an increase in quantity demanded B. a decrease in quantity demanded C. an expansion of demand D. a fall in demand E. price effect on demand Correct Answer: Option D – a fall in demand
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