JAMB UTME - Economics - 1981
Tambaya 1 Rahoto
The situation whereby in a fiscal year a government’s revenue receipt are less than its expenditures is referred to as?
Bayanin Amsa
Tambaya 4 Rahoto
Which of the following statement is NOT true about agriculture in West Africa?
Tambaya 5 Rahoto
| 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`
Bayanin Amsa
Tambaya 6 Rahoto
An economy in which both the public and the private sectors contribute substantially to the growth of output is?
Bayanin Amsa
Tambaya 7 Rahoto
The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
Bayanin Amsa
Tambaya 9 Rahoto
Which of the following is NOT true about specialization or division of labour?
Bayanin Amsa
Tambaya 11 Rahoto
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
Bayanin Amsa
Tambaya 12 Rahoto
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
Bayanin Amsa
Tambaya 14 Rahoto
Which of the following statement does NOT describe a situation of perfect competition.?
Bayanin Amsa
Tambaya 15 Rahoto
In this diagram, So So is the original supply curve while S1 S1 represent?
Bayanin Amsa
Tambaya 17 Rahoto
Prohibiting the sale of lace materials in Nigeria would probably lead to?
Bayanin Amsa
Tambaya 18 Rahoto
A movement along a given demand curve for a good is caused by a change in
Bayanin Amsa
Tambaya 22 Rahoto
Which of the following is NOT a visible iterm in international trade payments?`
Bayanin Amsa
Tambaya 23 Rahoto
Government in West Africa countries engage in running a number of enterprises because ?
Bayanin Amsa
Tambaya 24 Rahoto
|
|
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
Bayanin Amsa
Tambaya 26 Rahoto
Which of the following is NOT a major function of a Central Bank?
Tambaya 28 Rahoto
Which of the following statements does NOT describe a situation of perfect competition?
Bayanin Amsa
Tambaya 29 Rahoto
Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
Tambaya 30 Rahoto
Which of the following is NOT a visible item on international trade payment?
Bayanin Amsa
Tambaya 31 Rahoto
Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
Bayanin Amsa
Tambaya 33 Rahoto
Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?
Bayanin Amsa
Tambaya 38 Rahoto
If the income of a consumer rises and his demand for good X falls, good X can be described as
Bayanin Amsa
Tambaya 39 Rahoto
Which of the following does NOT belong in respect of the quantity of money?
Tambaya 41 Rahoto
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
Bayanin Amsa
Tambaya 42 Rahoto
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
Bayanin Amsa
Tambaya 43 Rahoto
If a commodity has many substitutes, it is most likely that?
Tambaya 44 Rahoto
|
|
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
Bayanin Amsa
Tambaya 46 Rahoto
Which of the following is NOT a characteristic of perfect competition?
Bayanin Amsa
Tambaya 47 Rahoto
An increase in the price of butter causes an increase in the demand for margarine. This indicate that butter and margarine are?
Bayanin Amsa
Tambaya 50 Rahoto
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?
