JAMB UTME - Economics - 1981
Question 1 Report
Market Schedules for Milk:
| Price per tin | Quantity demanded (tins) | Quantity supplied (tins) |
| 8k | 25,000 | 7,500 |
| 10k | 23,000 | 9,000 |
| 13k | 20,000 | 11,500 |
| 15k | 18,000 | 13,000 |
| 18k | 15,000 | 15,000 |
| 20k | 13,000 | 17,500 |
| 23k | 10,000 | 21,000 |
| 25k | 8,000 | 24,000 |
From the market demand and supply schedules for milk, we can say that equilibrium price and quantity are
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Question 2 Report
Which of the following is NOT a visible item on international trade payment?
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Question 3 Report
Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?
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Question 6 Report
If a commodity has many substitutes, it is most likely that?
Question 7 Report
Which of the following statement does NOT describe a situation of perfect competition.?
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Question 8 Report
Which of the following statements does NOT describe a situation of perfect competition?
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Question 12 Report
Which of these statement is NOT true of economics as a discipline?
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Question 14 Report
An increase in the price of butter causes an increase in the demand for margarine. This indicate that butter and margarine are?
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Question 18 Report
Summary of product condition in countries i and ii
Amount of labour days, cocoa(tons) Cloth(tons)
Country i 200 600 900
country ii 200 300 800
From the above table, we can correctly say in respect of international trade that
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Question 19 Report
If the income of a consumer rises and his demand for good X falls, good X can be described as
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Question 21 Report
| Price per tin | Demand per week | Supply per week |
| ₦6 | 0 tins | 45 tins |
| ₦5 | 5 tins | 35 tins |
| ₦4 | 10 tins | 25 tins |
| ₦3 | 15 tins | 15 tins |
| ₦2 | 20 tins | 5 tins |
| ₦1 | 25 tins | 0 tins |
Market for Garri: At a price of N5, the excess supply is`
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Question 22 Report
Which of the following is NOT a major function of a Central Bank?
Question 23 Report
Which of the following does NOT belong in respect of the quantity of money?
Question 24 Report
Which of the following statement is NOT true about agriculture in West Africa?
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Question 25 Report
Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
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Question 26 Report
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
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Question 27 Report
Which of the following is NOT true about specialization or division of labour?
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Question 28 Report
The situation whereby in a fiscal year a government’s revenue receipt are less than its expenditures is referred to as?
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Question 29 Report
One of the probable effects of an increased minimum wage in Nigeria is?
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Question 30 Report
Government in West Africa countries engage in running a number of enterprises because ?
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Question 32 Report
Which of the following is NOT a visible iterm in international trade payments?`
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Question 33 Report
The process by which West African countries attempt to reduce the import of manufactured goods by encouraging firms to produce these goods at homes is known as?
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Question 34 Report
|
|
Amount of labour days |
Cocoa (tons) |
Cloth (metres) |
| Country I |
200 |
600 |
900 |
| Country II |
200 |
300 |
800 |
Summary of production conditions in countries l and ll.
From the table, we can correctly say in respect of international trade that
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Question 35 Report
Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
Question 36 Report
An economy in which both the public and the private sectors contribute substantially to the growth of output is?
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Question 42 Report
The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
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Question 43 Report
Prohibiting the sale of lace materials in Nigeria would probably lead to?
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Question 45 Report
If P8 and P9 represent the population of West African in 1978 and 1979 respectively, and given that in 1979.
D= number of deaths, B= number of births, I= number of immigrants, E= number of Emigrants. Then the size of the population in 1979 is given by
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Question 46 Report
Which of the following is NOT a characteristic of perfect competition?
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Question 47 Report
|
|
Sector 1 |
Sector 2 |
Sector 3 |
Sector 4 |
| Share in total National Output |
25% |
10% |
50% |
15% |
| Share in total Employment |
60% |
10% |
5% |
25% |
| Growth rate of Sectoral Output |
2% |
5% |
10% |
3% |
From the above, the Growth Rate of Total National Output or GDP is
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Question 48 Report
A movement along a given demand curve for a good is caused by a change in
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Question 49 Report
In this diagram, So So is the original supply curve while S1 S1 represent?
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