JAMB UTME - Economics - 1988
Frage 1 Bericht
A textile firm operates a plant in the North (where capital expensive relative to labour)as well as a plant in the South (where labour is expensive relative to capital ). In this diagram above the Southern plant will minimize cost by combining labour and capital in the amounts indicated by
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Frage 2 Bericht
Under partnership, investors who have no desires to be actively involved in the day-to-day management of such organization, are called?
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Frage 6 Bericht
Which of the following items is subtracted when computing Gross National Product at factor cost, by the expenditure method?
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Frage 7 Bericht
In estimating the national income of a country, the three approaches usually adopted are the?
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Frage 9 Bericht
Which of the following occurs in the circular flow of economic activities with no leakages
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Frage 12 Bericht
Which of the following factors enhances the ability of commercial banks to create money?
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Reserve ratio is one of instrument that central bank use to control the activities of commercial banks across the nation. So, a reduction in this reserve ratio will make commercial banks to lend more to the public which in turn yield more interest for them.
Frage 13 Bericht
If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?
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Frage 14 Bericht
The group of unemployed members of a community who are physically handicapped or disabled, is generally classified under unemployment as?
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Frage 15 Bericht
One factor which influences the slope of a non-linear demand curve for a commodity is the?
Frage 16 Bericht
Which of the following would most likely be considered an example of benefit taxation?
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Frage 17 Bericht
Development outside a given firm which reduce the firm costs are called?
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Frage 20 Bericht
Which of the following is a good example of invisible item on balance of payments account?
Frage 21 Bericht
The most important limitation on the partner as a form of business enterprise is the?
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Frage 23 Bericht
Collectivism refers to the system of management of state enterprises in a?
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Frage 24 Bericht
Which of the following is TRUE at the quantity of output where Average Cost (AC) per unit has reached its minimum level?
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Frage 27 Bericht
The Malthusian theory of population predicts that growth in food production will?
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Frage 31 Bericht
Ufuoma is a consumer. His scale of preference shows that he prefers a pair of shoes to a wrist watch; he prefers the wrist watch to a pair of trousers; he prefers the pair of trousers to the pair of shoes. This means that Ufuoma is
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Frage 33 Bericht
The average product of labour in a given period is obtained by dividing the?
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Frage 34 Bericht
When a nation is experiencing balance of payment surplus, it is in a better position to?
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Frage 35 Bericht
In a public company, enterpreneurial functions are performed by the?
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Frage 38 Bericht
The demand and supply equations for a commodity are given respectively as D = 20 - 1/2P; S = 8 + 1/4P. Recalling that at equilibrium, D = S, the equilibrium (P) and quantity (Q) can be obtained as
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Frage 41 Bericht
The additional revenue obtained by using one more unit of a factor is called?
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Frage 42 Bericht
If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?
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Frage 45 Bericht
Restriction on credit creation by commercial banks can be effected through?
Frage 46 Bericht
Air is essential to life but commands no price!
Diamond is not essential to life but commands a high?
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Frage 50 Bericht
Which of the following changes in equilibrium price and quantity is as a result of an upward shift in the market demand for a commodity?
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