JAMB UTME - Economics - 1983
Swali 1 Ripoti
If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will added less to the output than previous units of the labour. This concept is known as?
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Swali 7 Ripoti
The curves Do Do and SoSo are the demand and supply curves respectively. What happens when government subsidizes producers in order to boost output?
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Swali 8 Ripoti
Comparative cost doctrine of international trade means specialization in production
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Swali 9 Ripoti
The quickest way of achieving an economic union on regional basis is to remove all?
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Swali 10 Ripoti
A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?
Swali 11 Ripoti
In perfect competition a firm's price is equal to its marginal revenue which is again equal to average revenue. This form maximizes its profits when its marginal cost (MC) is equal to price (p). Which of the curves in the diagram below represents the firm's marginal cost (MC)?
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Swali 13 Ripoti
If any economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvements in labour and capital combined, the balance of 3% is usually due to?
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Swali 15 Ripoti
Which of the following is NOT an advantage of localization of industries?
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Swali 18 Ripoti
Which of the following is NOT include in measuring national income by the income approach?
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Swali 20 Ripoti
Age-structure in Nigeria is such that the working age-group is in the years
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Swali 25 Ripoti
Production possibilities(alternatives)
P Q R S T
Units of shelter 5 4 3 2 0
Units of food 0 5 9 12 15 Basedon the above production possibilities table, the real cost of a unit of food when alternative R is selected is?
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Swali 26 Ripoti
Division of labour has many advantages . Not withstanding, it is greatly limited by?
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Swali 27 Ripoti
Public expenditure creates expansionary effects in the economy when it is
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Swali 28 Ripoti
Which of the following enterprises does NOT pursue the sole objective of profit maximization?
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Swali 30 Ripoti
Which of the following sets fully represents factors of production?
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Swali 31 Ripoti
In the event of a limited liability company going into liquidation each
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Swali 32 Ripoti
When a government owns enterprises, a number of advantage arise. Which of thefollowing is NOT one of such advantages?
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Swali 33 Ripoti
In the diagram P1 S is a supply curve for a manufactured. its shows that
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Swali 35 Ripoti
A Nigerian household's demand curve for semovita is downward because?
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Swali 36 Ripoti
Which of thefollowing items is NOT an argument for locating industries in rural areas?
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Swali 37 Ripoti
The monetary system that requires double coincidence of want is known as?
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Swali 39 Ripoti
Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age?
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Swali 41 Ripoti
The maintenance of general economic stability in the country necessarily relies heavily on?
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Swali 45 Ripoti
In an inflationary period which of the following statements is NOT true?
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Swali 46 Ripoti
The effect of emigration on a country's population, all other things remaining equal, is to
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