JAMB UTME - Economics - 1986

The main function of price mechanism is to?

The most important economic characteristic differentiating commercial banks from other financial institutions is their?

The difference between the Gross Domestic Product and the Gross National Product is?

If a person receives a higher wage than would be necessary to induce him to work, he is said to be receiving

The Nigeria Bank for Commerce and Industry is?

A firm achieves least cost in production by substituting factors until

In international trade, a country specializes in the production of a commodity or group of commodities for which it has?

A producer sustains a loss in the short run if

Tax incidence is the analysis of?

In the normal channels of distribution the breaking of bulk is performed by the

Which of the following is an external economy derived by a firm?

The term balance oftrade, can be defined as the?

A country has a population distribution as shown below:

The dependency ratio is

Which of these is the real cost of satisfying any want in the sense of the alternative that has to be foregone?

The degree of specialization is limited by the

Balance of payment deficit in Nigeria CANNOT be solved by

Which of the following strategies will provide more employment opportunities for Nigerians?

Which of the following is an important function of prices in a market economy?

Population density refers to?

Use the table below to answer the question below:

Market Demand Schedule for Commodity X:

If the price of commodity X falls from N40.00 to N30.00 what is the price elasticity of demand?

Which of the following statements describes a mixed economy?

To control inflation, the monetary authorities of a country can?

One of the advantages of a partnership over a sole proprietorship is that?

The most important advantage of co-operative societies is?

What fundamentally determines how much a consumer spends in a producer's shop?

The best technical description of a progressive tax is a?

Which of the following causes of inflation is related to demand-pull inflation?

Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?

One major difference between monopoly and perfect competition is that?

Which of the following is a characteristic of private limited liability company?

Deflation is a persistent fall in the general price level and is usually caused by?

ECOWAS will enable the countries involved to achieve

Which of the following methods is most likely to lead an economy?

Given that beef and fish are substitutes, a rise in the price of beef relative to that of fish will?

In a public company, shares are?

An nation's distribution of income shows?

The term of trade often measured by the ratio of the index of export

A firm is at its optimum size when?

In drawing an individual's demand curve for a commodity, which of the following is not kept constant? The

A monopolist will practice price discrimination in two markets if?

Which of the following advantages of localization of industries may also be a disadvantage?

Production in Economics can be defined as the

Choice in economic life is necessitated by?

Which of the following is NOT a goal of modern budgets?

Gresham's law in economics shows that

Which of the following is used by the Central Bank to control the rate of interest?

A society which forgoes present consumption

Under normal circumstances the concept of consumers sovereignty implies that

Mobility of labour is NOT affected by

The revenue accruing to the seller of commodity X as a result of a fall in price will