JAMB UTME - Economics - 1984

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

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A demand curve slopes downwards because of ?

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

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

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

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Division of labour is limited by?

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

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One disadvantage of sole proprietorship is its?

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

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

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

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

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

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The most important characteristic of money is?

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In taxation, the benefit principle requires that?

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

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

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

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

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

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

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The economic goal of public utilities is to?

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

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

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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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The diagram illustrates

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

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The channel for food distribution in Nigeria consist of?

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

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An improvement in Nigeria's terms of trade should

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Generally, property taxes?

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

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The Central Bank instrument of control does NOT include

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

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

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

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Cost push inflation takes place due to?

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An imperfectly competitive market is one where?

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

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