JAMB UTME - Economics - 1987
Pregunta 2 Informe
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
Detalles de la respuesta
Pregunta 3 Informe
Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. The market demand curve for the commodity cuts the quantity axis when quantity is
Detalles de la respuesta
Pregunta 6 Informe
What form of market is found in an imperfect competition where there are few buyers and many sellers?
Detalles de la respuesta
Pregunta 9 Informe
In the history of Economic Thought the concept of Division of labour is usually associated with?
Detalles de la respuesta
Pregunta 12 Informe
The study of economic behavior of individual decision-making units (consumers, resources owners and business firms) in a free-enterprise economy is known as?
Detalles de la respuesta
Pregunta 13 Informe
The rate of exchange between a domestic and a foreign currency is defined as the?
Detalles de la respuesta
Pregunta 14 Informe
The residual of production which accrues to the owner of land after all other expenses have been met is called?
Detalles de la respuesta
Pregunta 15 Informe
The difference between personal income and personal disposal income is?
Detalles de la respuesta
Pregunta 17 Informe
The shut-down point for a firm in the short run is the output at which?
Detalles de la respuesta
Pregunta 20 Informe
A production possibility curve shows?
Detalles de la respuesta
The production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
Pregunta 22 Informe
Which of the following best explains the structural changes in the population of a country?
Detalles de la respuesta
Pregunta 23 Informe
Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?
Detalles de la respuesta
Pregunta 24 Informe
Which of the following best describes the concept of opportunity cost?
Detalles de la respuesta
Pregunta 25 Informe
In the process of shopping, Mr. X whose wages per month does not exceed N200, finds that the price of a commodity he used to purchase with a fixed amount of N200 has risen to N230,. He therefore decides not to buy this commodity at all. Mr. X is thus affected by the?
Detalles de la respuesta
Pregunta 28 Informe
Given an original price of N3.50 per kilogram of rice and a change in price of 1.40, and given the quantity purchase at the old price as 10kg and a change in the quality as 5kg after the price change, the elasticity is equal to?
Detalles de la respuesta
Pregunta 29 Informe
For the improvement of the welfare of a people, a high production level is not enough because
Detalles de la respuesta
Pregunta 30 Informe
Statistical information available in most West African countries suggests that?
Detalles de la respuesta
Pregunta 32 Informe
The additional revenue obtained by using one more unit of a factor is called its?
Detalles de la respuesta
Pregunta 33 Informe
A budget with a projected revenue in excess of its expenditure is said to be?
Detalles de la respuesta
Pregunta 35 Informe
Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. What is market demand for the commodity when price is N5?
Detalles de la respuesta
Pregunta 36 Informe
In the long run a firm will leave an industry if price?
Detalles de la respuesta
Pregunta 37 Informe
The money which government spends yearly for the maintenance of its school is?
Detalles de la respuesta
Pregunta 38 Informe
Which of the following is compatible with a firm in a purely competitive market?
Detalles de la respuesta
Pregunta 39 Informe
In the operation of market forces, the market is in equilibrium at the point where?
Detalles de la respuesta
Pregunta 40 Informe
The form of capital which is usually consumed or transformed into finished goods and services in the production process is called?
Detalles de la respuesta
Pregunta 42 Informe
In which of the diagrams above, is the consumer surplus correctly shaded?
Detalles de la respuesta
Pregunta 43 Informe
Which of the following is NOT a type of business ownership?
Detalles de la respuesta
Pregunta 45 Informe
A shift in the demand curve for commodity when the supply curve is vertical will lead to a change in the?
Detalles de la respuesta
Pregunta 47 Informe
In the diagram, above Ps is the supply curve for a particular commodity, while OP is the price which of the following statements is correct?
Detalles de la respuesta
Pregunta 50 Informe
Which of the following is a disadvantage of regional concentration of industries?
Detalles de la respuesta
