NECO GCE Economics 2023 question and answer: Get the NECO GCE Economics Questions and answers for both Objective and Essay paper for 2023 Economics 2(Essay) and (objective) – 2:00pm – 5:00pm, check details.
The National Examination Council is an examination body in Nigeria that conducts the Senior Secondary Certificate Examination and the General Certificate in Education, this page contains the 2023 NECO GCE questions and answers.
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NECO GCE Economics Questions 2023 Objective and Essay
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(i)Business Idea: The initial step involves conceptualizing a business idea that resonates with the entrepreneur’s passions, skills, and expertise. This concept needs to align with market needs and possess a unique selling point to stand out amidst competition.
(ii)Market Research: Conducting comprehensive market research is pivotal. This entails analyzing the industry landscape, identifying the target market, understanding consumer preferences, studying competitors’ strategies, and discerning market trends. This information helps in shaping the business model and strategies.
(iii)Legal Structure: Sole proprietors must choose an appropriate legal structure. Opting for a sole proprietorship means the business and the owner are considered the same legal entity, which impacts liability and taxation. Understanding the legal implications and considering factors like personal liability protection and tax obligations is crucial.
(iv)Finances: Financial considerations encompass estimating initial capital requirements, creating a detailed budget, forecasting expenses, and exploring potential funding sources (like personal savings, loans, or..
NECO GCE Economics Past Questions and Answers
NECO GCE 2023 Economics Answers Theory and Objective
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