JAMB UTME - Economics - 1987
Pergunta 2 Relatório
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?
Detalhes da Resposta
Pergunta 4 Relatório
Which of the following best explains the structural changes in the population of a country?
Detalhes da Resposta
Pergunta 6 Relatório
Which of the following is NOT a type of business ownership?
Detalhes da Resposta
Pergunta 8 Relatório
The difference between personal income and personal disposal income is?
Detalhes da Resposta
Pergunta 9 Relatório
Which of the following is a disadvantage of regional concentration of industries?
Detalhes da Resposta
Pergunta 10 Relatório
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
Detalhes da Resposta
Pergunta 11 Relatório
For the improvement of the welfare of a people, a high production level is not enough because
Detalhes da Resposta
Pergunta 12 Relatório
In the operation of market forces, the market is in equilibrium at the point where?
Detalhes da Resposta
Pergunta 15 Relatório
Which of the following is compatible with a firm in a purely competitive market?
Detalhes da Resposta
Pergunta 18 Relatório
The form of capital which is usually consumed or transformed into finished goods and services in the production process is called?
Detalhes da Resposta
Pergunta 19 Relatório
A budget with a projected revenue in excess of its expenditure is said to be?
Detalhes da Resposta
Pergunta 20 Relatório
Which of the following best describes the concept of opportunity cost?
Detalhes da Resposta
Pergunta 24 Relatório
Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?
Detalhes da Resposta
Pergunta 26 Relatório
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
Detalhes da Resposta
Pergunta 28 Relatório
The shut-down point for a firm in the short run is the output at which?
Detalhes da Resposta
Pergunta 29 Relatório
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?
Detalhes da Resposta
Pergunta 30 Relatório
In the history of Economic Thought the concept of Division of labour is usually associated with?
Detalhes da Resposta
Pergunta 32 Relatório
The residual of production which accrues to the owner of land after all other expenses have been met is called?
Detalhes da Resposta
Pergunta 34 Relatório
In which of the diagrams above, is the consumer surplus correctly shaded?
Detalhes da Resposta
Pergunta 35 Relatório
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?
Detalhes da Resposta
Pergunta 36 Relatório
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?
Detalhes da Resposta
Pergunta 39 Relatório
The rate of exchange between a domestic and a foreign currency is defined as the?
Detalhes da Resposta
Pergunta 40 Relatório
The money which government spends yearly for the maintenance of its school is?
Detalhes da Resposta
Pergunta 41 Relatório
A production possibility curve shows?
Detalhes da Resposta
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.
Pergunta 43 Relatório
What form of market is found in an imperfect competition where there are few buyers and many sellers?
Detalhes da Resposta
Pergunta 44 Relatório
The additional revenue obtained by using one more unit of a factor is called its?
Detalhes da Resposta
Pergunta 46 Relatório
The study of economic behavior of individual decision-making units (consumers, resources owners and business firms) in a free-enterprise economy is known as?
Detalhes da Resposta
Pergunta 49 Relatório
Statistical information available in most West African countries suggests that?
Detalhes da Resposta
Pergunta 50 Relatório
A shift in the demand curve for commodity when the supply curve is vertical will lead to a change in the?
Detalhes da Resposta
