JAMB UTME - Economics - 1984

The following except ONE, are the differences between international trade and internal trade?

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A demand curve slopes downwards because of ?

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The main economic objective behind the production of goods and services in any economy is to?

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Which Of the following is NOT an obstacle to economic development?

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Division of labour is limited by?

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Cost push inflation takes place due to?

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The basic principles of co-operative societies are those of?

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Demand for a commodity by a consumer is the quantity of that commodity that the consumer

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For two substitution goods, the cross elastic of demand is?

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Which of the following is NOT a feature of economic underdevelopment of a country?

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The most important factor determining the location of the cement industry in Nigeria today is ?

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An imperfectly competitive market is one where?

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In the diagram, (I) refers to the calculation of national income through the

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Which of the following is NOT a determinant of the size economically active population?

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Which of the following items does NOT belong to a country's current account in the balance of payments accounts?

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A rightward shift in the production possibility frontier may be due to

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Which of the following does NOT represent the behavior of a monopolist?

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In the diagram, the supply curve So So shifts to a new position S₁ S₁ to indicate

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Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?

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One disadvantage of sole proprietorship is its?

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A perfectly competitive firm does not influence the demand for its commodities bylowering its price below the market price because?

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The most important characteristic of money is?

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One of the advantages of large - scale production is that

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The usage of machinery helps to oversee in a large scale of production which in turn covers the high amount in time consumption. This makes room for the efficiency of labour as compared to the usage of manpower.

The economic goal of public utilities is to?

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In the diagram, (III) refers to the calculation of national income through the

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The question below is based on the table below:

The international production set for Nigeria and Austria is:

The opportunity cost ratio for cocoa and lace for Austria and Nigeria is

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Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

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Generally, property taxes?

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The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?

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The population level that yields the maximum output when combined with available resources is known as

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If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

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If a person demands money for buying and selling securities. It is referred as demanding money for

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The advantages that accrue to a firm as the size of the firm increases are known as

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One of the major effects of an increase in government expenditure on a nation’s economy is that it?

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In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

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In the diagram I refers to the calculation of national income through the

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The diagram illustrates

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The question below is based on the table below:

The international production set for Nigeria and Austria is:

From the table, it can be deduced that?

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The channel for food distribution in Nigeria consist of?

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Let P x represent the price of exports and Pm the price of imports. Then the terms of trade (TOT) are said to be favourable if

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"$$P_{x}/P_{m} > 1$$"

An improvement in Nigeria's terms of trade should

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Public expenditure on services, such as education and health, is known as expenditure on

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Which of the following is NOT true of debentures and debenture holders?

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The Central Bank instrument of control does NOT include

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In the diagram III refers to the calculationof national income through the

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Which Of the following is NOT an obstacle to economic development?

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The control of prices by legislation usually produces a number of consequences. Which of the following is NOT an association problem of maximum price control?

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pricing and output decisions of sellers are highly interdependent in markets known as?

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For a non-discriminating monopolist in Nigeria, price at the profit maximizing output is

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In taxation, the benefit principle requires that?

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