JAMB UTME - Economics - 1984

One disadvantage of sole proprietorship is its?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?

Maelezo ya Majibu

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?

Maelezo ya Majibu

The diagram illustrates

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

A demand curve slopes downwards because of ?

Maelezo ya Majibu

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

Maelezo ya Majibu

The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?

Maelezo ya Majibu

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

Maelezo ya Majibu

Generally, property taxes?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

The Central Bank instrument of control does NOT include

Maelezo ya Majibu

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

Maelezo ya Majibu

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?

Maelezo ya Majibu

Division of labour is limited by?

Maelezo ya Majibu

The channel for food distribution in Nigeria consist of?

Maelezo ya Majibu

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?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

The most important characteristic of money is?

Maelezo ya Majibu

If a person demands money for buying and selling securities. It is referred as demanding money for

Maelezo ya Majibu

The economic goal of public utilities is to?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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?

Maelezo ya Majibu

An imperfectly competitive market is one where?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

Public expenditure on services, such as education and health, is known as expenditure on

Maelezo ya Majibu

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

Maelezo ya Majibu

One of the advantages of large - scale production is that

Maelezo ya Majibu

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.

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

Maelezo ya Majibu

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

Maelezo ya Majibu

An improvement in Nigeria's terms of trade should

Maelezo ya Majibu

Cost push inflation takes place due to?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

In taxation, the benefit principle requires that?

Maelezo ya Majibu

If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

Maelezo ya Majibu

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

Maelezo ya Majibu

One of the major effects of an increase in government expenditure on a nation’s economy is that it?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu