NECO: Economics Answers ECONOMICS  for Today Tuesday, 5/jun 2018
NECO: Economics Answers ECONOMICS for Today Tuesday, 5/jun 2018

NECO Economics Question and Answers
ECONOMICS OB
1-10 BEEBECEBAE
11-20 EACAACACDD
21-30 EDCEBCBEAE
31-40 AECDBDABBC
41-50 DBEDBEEABD
51-60 DCEADABCEB
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 *** slope *** from left to
right
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°
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.
1. 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. The workers are not made permanent even
after many years of service and in some cases
they are removed from service summarily. The
trade unions provide security to the employees in
such situations.
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. It is a platform
where workers come together and know each
other. The trade unions also provide some kind of
entertainment and relaxation to 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
3a) Similarities are :
*Both provide long-term loans to their member
countries
*Both aim to promote economic development
*Both render technical and financial advice to
member states
1. ii) One difference is;
ADB is meant for African countries only
while IBRD is a global bank
3b) Benefits obtained by Nigeria from world bank
are:
–Approval of $500 million to improve maternal and
child health in the country in 2015
–Approval of a $200 million credit to support the
Nigeria agricultural sector, especially small and
medium scale farmers in March 2017
8) 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 Substitutio… Read more contact 08131240056

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