NECO Economics · Foundations of economics
Types and basic features of economic systems: NECO Economics Past Questions and Answers
What the WAEC syllabus covers in Types and basic features of economic systems
Our summary: Capitalism, socialism and the mixed economy, and how each one tackles society's economic problems.
- Types – capitalism, socialism and mixed economy
- Basic features of each
- Advantages and disadvantages of each
- Economic problems of society and the approaches for solving them under each of the systems
Syllabus content © The West African Examinations Council (WASSCE (harmonised West African syllabus)). NECO questions are matched to the WAEC syllabus topic.
NECO Economics questions on Types and basic features of economic systems
- NECO 2009A major feature of capitalism is
- NECO 2007The solution to problem of how to produce in a capitalist economy is solved by
- NECO 2007Which of the following is an advantage of free enterprise economy?
- NECO 2005The problem of “how to produce” in any economy is solved by
- NECO 2005An economy in which decision of what to produce is taken partly by private individuals and state is referred to as Economy.
- NECO 2004In a socialist economic system, decisions relating to the fundamental economic problems are taken by
- NECO 2004The decision of whether to use labour or capital intensive techniques in production process is a problem of
- NECO 2003Which of these is NOT a basic economic problem of society?
- NECO 2003An economic system where both the public and individuals own and control means of production is known as … system
- NECO 2002Which of the following is NOT a feature of capitalism ?
- NECO 2002An economic system in which the decision on what and how to produce is determined by the individual is called
- NECO 2002An economic system in which individual control the productive resources is known as
Years with Types and basic features of economic systems questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2009
- 2007
- 2005
- 2004
- 2003
- 2002