JAMB UTME - Economics - 1982
Swali 1 Ripoti
Which of the following countries is NOT a member of the economic Community of West African States?
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Swali 3 Ripoti
| Unit of output |
Table cost |
| 1 |
20 |
| 2 |
32 |
| 3 |
42 |
| 4 |
48 |
| 5 |
50 |
in the above table, the marginal cost of the 3rd unit of output is
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Swali 5 Ripoti
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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Swali 7 Ripoti
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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Swali 9 Ripoti
What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?
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Swali 11 Ripoti
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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Swali 12 Ripoti
If the Central Bank intends to increase the money supply through open market operations then it will
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Swali 13 Ripoti
In Nigeria, a balance of payments deficit can be solved by all of the following EXECPT?
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Swali 14 Ripoti
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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Swali 16 Ripoti
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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Swali 19 Ripoti
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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Swali 20 Ripoti
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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Swali 21 Ripoti
A good measure of the standard of living usually used for international comparison is
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Swali 25 Ripoti
The sloping downward of the demand curve implies that?
Swali 27 Ripoti
A firm whose cost of production decrease as it continues to increase its output is said to be enjoying?
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Swali 28 Ripoti
The supply of and demand for goods and services are influenced by the?
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Swali 29 Ripoti
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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Swali 31 Ripoti
Public enterprises are supported on the grounds that they are undertaken for
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Swali 34 Ripoti
The most dominant economic activity which employs the largest number of people in West Africa is?
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Swali 35 Ripoti
Which one of the following functions of banks in Nigeria is reserved to the Central Bank?
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Swali 36 Ripoti
All of the following EXCEPT ONE are normal functions of the marketing board in Nigeria
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Swali 37 Ripoti
A commodity can be sold for two or more different prices if it is?
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Swali 38 Ripoti
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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Swali 39 Ripoti
Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is
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Swali 41 Ripoti
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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Swali 42 Ripoti
|
|
Share of gross national product (GNP) |
Share of total employment |
Growth rate of output |
| All agriculture |
40% |
70% |
3% |
| Industry and mining |
30% |
10% |
10% |
| Trade andservices |
30% |
20% |
5% |
What is the growth rate of GNP?
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Swali 44 Ripoti
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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Swali 45 Ripoti
The difference between visible exports and invisible exports of a country, in money terms, is known as the?
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Swali 46 Ripoti
One of the ways by which Government derives revenue from industrial enterprises in West Africa is?
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Swali 47 Ripoti
which is not responsible for the decline in food production in West Africa?
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Swali 49 Ripoti
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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