2024 NECO: HOW TO GET NECO QUESTION AND ANSWER BEFORE EXAM START

JUPEB: 2024 JUPEB EXAMINATION TIMETABLE

EXPO: 2024 NECO ANSWER DAILY SUBSCRIPTION PRICE LIST

NECO: 2024 NECO OFFICIAL TIMETABLE

# NECO 2017 Economics OBJ And Essay/Theory Expo Answer – June/July

NECO Economics OBJ, ESSAY/Theory Questions and Answer – May/June 2017 Expo Runz

NECO Economics OBJ, THEORY/ESSAY Questions and Answer – June/July 2017 Expo Runz
ECONS OBJ
1BEEBECEBAE
11EACAACACDD
21EDCEBCBEAE
31AECDBDABBC
41DBEDBEEABD
====================================
ECONS THEORY
1a)
1b)
Tabulate:
Year | Cocoa | Crops palm oil | Cotton | Total(#)
1970 | 100 | 150 | 250 | 500
1971 | 150 | 75 | 225 | 450
1972 | 250 | 200 | 150 | 600
Total = #1550m
=#1.55b
1c)
Percentage = 150/600 * 100
= ¼ * 100
= 25%
1d)
Degree = palm oil expert in 1971 * 360°
Total expert in 1971
= 75/450 * 360°
= 60°
2a)
A = 15
B =15 + 13 = 28
C = 20/3 = 6.7
D = 40 – B = 40 – 28 = 12
E 70/4 = 17.5
F = 20/5 = 4
G = 17 * 6 = 102
H = 82 – 60 = 22
I = 113/7 = 16.1
J = 19.5 * 8 = 156
2b)
Draw the Graph
2c)
As output rises, the AFC decreases and the curve the represents it would slope downward from left to right
4a)
Trade union is an organized association of workers in a trade, group of trades, or profession, formed to protect and further their rights and interests
4b)
i)Trade Unions working for the Progress of the Employees: The trade unions try to improve the economic conditions of the workers by representing their cases to the employers and try to get adequate bonus to the workers.
ii)Safeguarding the Interests of the Workers: Most of the industries try to exploit the workers to the maximum. They do not provide any benefits such as increas­ing their wages, granting sick leaves, giving compensation in case of accidents, etc.
iii) Increasing Co-operation and Well-being among Workers: It is in this context that the trade unions come into the picture and they promote friendliness and unity among the workers. Besides this, the trade unions also discuss the problems, which are common to all the workers.
Iv )Establishing Contacts between the Workers and the Employers: The trade unions play an important role in bringing to the notice of the employers the diffi­culties and grievances of the employees. They try to arrange face-to-face meetings and thus try to establish contacts between the employees and the employers.
4c)
i)picket lines
ii) strike
7a)
A tariff is a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive, versus domestic goods and services
7b)
i)Infant Industries
ii)National Defense
iii)Domestic Employment
v)Environmental Concerns
8a)
Elasticity of supply is measured as the ratio of proportionate change in the quantity supplied to the proportionate change in price
8b)
i)Possibility of Substitution:
The change in supply in response to the change in price depends on the possibility of substitution of a product for others. If the market price of potato rises, resources will be shifted from there cultivation like tomato and employed in the cultivation of potato.
ii)Infrastructural facilities:
The expansion of supply of a commodity also depends on the availability of productive facilities and inputs. The agricultural producer can not increase in response to the rise in price unless there is sufficient flow of fertilizers, irrigation etc.
iii)Producers response:
The elasticity of supply for a product depends on the producers’ responsiveness to the change in its price. The quantity supplied of a commodity will not change if the producers do not react positively to the increase in prices.
iv)Marginal Cost:
Elasticity of supply of a commodity depends on the marginal cost of production. The elasticity of supply of a commodity would be less if the marginal cost of production goes up. In the short run, diminishing marginal returns operates as some factors are fixed.
10a)
Production is incomplete without distribution because the main aim of production is to satisfy human wants. When the link between the producers and the consumers is absent, then the aim is defected.
10b)
i)The quantity and quality of factors of production (I.e land, labor, capital and entrepreneur). For example, amount of capital determines the labor to be hire and raw materials to be bought.
ii)The size of market: This is the extent to which the products are demand.
iii)The nature of the product: If the goods are durable in nature, more can be produced and stored.
iv)Availability of raw materials: This will determine the quantity of good to be produced.
v)Government policy: This has to do with the nature of economic policy of the government. The more favorable the government economic policy, the more they volume of goods to be produced and vice versa
GOOD LUCK
ENGLISH ANSWERS TO BE AVAILABLE BY 2AM-4AM MIDNIGHT..
DIRECT SMS: 1,000 MTN CARD ONLY

START SUBSCRIBING NOW TO BE ADDED ON THE FIRST LIST

=========================

Expospy.com posts all exam expo answer earlier than others
============================

GOODLUCK!!!