JAMB UTME - Economics - 1982

Economist speak about 'opportunity cost' when a person

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The most dominant economic activity which employs the largest number of people in West Africa is?

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Demand for money for speculative purposes means?

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The National Electric Power Authority (NEPA) is a?

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A commodity can be sold for two or more different prices if it is?

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When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as

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Balance of payments of a country explains the overall position of?

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Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

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Full equilibrium under perfect competition requires that?

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if AC = Average Cost of production ,

TC = Total Cost of production

VC = Variable Cost of production

FC = Fixed Cost of production

Q = Quantity of goods produced

Then,

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If the Central Bank intends to increase the money supply through open market operations then it will

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Public enterprises are supported on the grounds that they are undertaken for

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In Nigeria, a balance of payments deficit can be solved by all of the following EXECPT?

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Which is considered the most effective tool by which the Central Bank of Nigeria can control the activities of commercial banks?

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The equilibrium market price is determined at a point where?

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Taxes which are levied on a person’s expenditures are known as?

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Monetary policy does NOT involve

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One of the ways by which Government derives revenue from industrial enterprises in West Africa is?

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Population growth can be calculated as ?

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The purpose of import duties does NOT include the?

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The difference between visible exports and invisible exports of a country, in money terms, is known as the?

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The PAYE (Pay As You Earn) in Nigeria is an example of?

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The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbitant price is that?

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Who controls a limited liability company ?

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Most firms are financed by share capital. The shares which do not carry any fixed rate of dividend are known as ?

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What is the growth rate of GNP?

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Retailers are greater in numbers than wholesalers because?

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We can classify the people of Nigeria into three broad age group :Group one, 0-15years ; Group Two,16-64years; Group Three, 65years and above. Group Two is the most important economically because

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In the study of Economics, land, labour, capital and entrepreneur are referred to as factors of production. These factors produce commodities only if they are?

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The supply of and demand for goods and services are influenced by the?

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The chief sources of Federal Government revenue in Nigeria are?

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Which one of the following functions of banks in Nigeria is reserved to the Central Bank?

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All of the following EXCEPT ONE are normal functions of the marketing board in Nigeria

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A good measure of the standard of living usually used for international comparison is

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which is not responsible for the decline in food production in West Africa?

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Economics is a science which deals basically with

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Which of the following countries is NOT a member of the economic Community of West African States?

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What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?

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If income rises from N200.00 to N250.00 and the amount spent on good X fails from N30.00 to N28.00, then good X is

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In an economy, if the proportion of people who are below 18 years is 40% and those above 60 years is 30% what would this imply? the

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some of major problems hindering economic development in west Africa are in the areas of electricity supply, communication, educations and health. These items are known in Economics as?

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Oligopoly means

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The main economic goal of ECOWAS is the attainment of ?

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To calculate the annual natural growth rate of a country's population, one has to know the country's annual birth rate and

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A firm whose cost of production decrease as it continues to increase its output is said to be enjoying?

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What is the growth rate of employment?

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The sloping downward of the demand curve implies that?

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Function of commercial banks do NOT include?

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If income rises from N200.00 to N250.00 and the amount spent on good X falls from N30.00 to N28.00, then good X is?

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