JAMB UTME - Economics - 1981
Swali 2 Ripoti
Which of the following is NOT true about specialization or division of labour?
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Swali 3 Ripoti
Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?
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Swali 4 Ripoti
An economy in which both the public and the private sectors contribute substantially to the growth of output is?
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Swali 6 Ripoti
Which of the following statement is NOT true about agriculture in West Africa?
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Swali 7 Ripoti
Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
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Swali 8 Ripoti
In this diagram, So So is the original supply curve while S1 S1 represent?
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Swali 10 Ripoti
|
|
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
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Swali 11 Ripoti
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
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Swali 13 Ripoti
|
|
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
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Swali 14 Ripoti
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
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Swali 15 Ripoti
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?
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Swali 17 Ripoti
The situation whereby in a fiscal year a government’s revenue receipt are less than its expenditures is referred to as?
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Swali 19 Ripoti
An increase in the price of butter causes an increase in the demand for margarine. This indicate that butter and margarine are?
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Swali 20 Ripoti
Which of the following statement does NOT describe a situation of perfect competition.?
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Swali 21 Ripoti
Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
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Swali 22 Ripoti
If the income of a consumer rises and his demand for good X falls, good X can be described as
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Swali 23 Ripoti
The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
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Swali 24 Ripoti
Which of the following is NOT a visible iterm in international trade payments?`
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Swali 25 Ripoti
Which of the following is NOT a characteristic of perfect competition?
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Swali 30 Ripoti
Which of these statement is NOT true of economics as a discipline?
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Swali 34 Ripoti
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
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Swali 36 Ripoti
A movement along a given demand curve for a good is caused by a change in
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Swali 37 Ripoti
Government in West Africa countries engage in running a number of enterprises because ?
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Swali 38 Ripoti
Which of the following statements does NOT describe a situation of perfect competition?
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Swali 40 Ripoti
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
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Swali 41 Ripoti
| 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`
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Swali 42 Ripoti
Which of the following is NOT a visible item on international trade payment?
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Swali 45 Ripoti
One of the probable effects of an increased minimum wage in Nigeria is?
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Swali 46 Ripoti
Which of the following does NOT belong in respect of the quantity of money?
Swali 47 Ripoti
Prohibiting the sale of lace materials in Nigeria would probably lead to?
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