EXPO: NECO Economics Questions and Answers 2023/2024 – Theory and Objective (OBJ).

NECO Economics Questions and Answers: This NECO 2023 Economics expo question and answer is free for all candidates writing this year exams. If you are among those writing 2023 NECO Examination, Feel free to expect free answer here.

NECO Economics Questions and Answers

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Economics Tuesday, 1st August.

Economics (Objective & Essay)
10:00am – 1:00pm

Economics NECO

NUMBER 5

5A. Specialization refers to the process of focusing on a specific task or area of expertise within a larger system or organization. It involves individuals or organizations concentrating their efforts and resources on a particular aspect of production or service provision.

Advantages of division of labourDisadvantages of division of labour
It promotes work efficiency as a single task gets divided among individuals. They invent new ways to perform it in less time. Sometimes it leads to a monotonous job or boring labor.
Higher labor productivity engagement within as they perform small tasks with focus and accuracy.Production failure can stop the rest of the processes and their simultaneous work.
It saves time and factors of production (raw materials, technology, and capital). This division helps in achieving cost-efficiency as the wastage of materials is reduced. Loss of responsibility and mental development as individuals do not grow in it.  

NECO Economics OBJ/Theory Paper is Out

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OBJ Answer 2023 NECO Economics.

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