JAMB UTME - Economics - 1979
Ibeere 1 Ìròyìn
If the quantity demanded of a commodity increases from 20 to 30 when there is an increase in price from N4 to N5, the elasticity of demand is
Ibeere 3 Ìròyìn
| Number of Workers | Total Products |
| 1 | 10 |
| 2 | 28 |
| 3 | 48 |
| 4 | 72 |
| 5 | 80 |
Study the table above: What is the marginal product of the second worker?
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Ibeere 4 Ìròyìn
One of the reason why the condition of supply of a commodity may change is
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Ibeere 7 Ìròyìn
Which of the following type of capital is not rewarded by means of dividends?
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Ibeere 12 Ìròyìn
The burden of tax on a commodity whose demand is infinitely inelastic
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Ibeere 16 Ìròyìn
The principle of comparative advantage or comparative cost is NOT based on one of the following assumptions
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Ibeere 17 Ìròyìn
The lowering of the exchange rate between country's currency and other currencies is known as
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Ibeere 18 Ìròyìn
which of the following is not true about occupational distribution of the labour force of West Africa?
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Ibeere 22 Ìròyìn
What do we call a market where there is large number of buyers and sellers, such that no one has an appreciable influence over prices?
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Ibeere 25 Ìròyìn
In most cases the marginal utility derived from a particular good
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Ibeere 27 Ìròyìn
The pre-dominance of non-working housewives and maids in West Africa
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Ibeere 30 Ìròyìn
The quantity supplied of a commodity increases best when
Ibeere 31 Ìròyìn
If Mr A earns N2,000 a year while Mr B earns N8,000 but Mr a pays N200 in tax per annum while Mr B pays N400, such a tax is
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Ibeere 33 Ìròyìn
When the price of a commodity is below the equilibrium price the quantity demanded will exceed the quantity supplied. Such a situation is referred to as
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Ibeere 34 Ìròyìn
Which is the most liquid of the following financial assets held by an individual?
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Ibeere 35 Ìròyìn
Which of the following is not a component of national income at factor cost?
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Ibeere 38 Ìròyìn
The central bank controls the activities of other banks by all but one of the following
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Ibeere 39 Ìròyìn
If two commodities are good substitutes for one another, e.g butter and margarine,an increase in the demand for one will reduce the demand for the other. This type of demand is called
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Ibeere 41 Ìròyìn
The total value of goods and services sold and bought in a country across its border during a given period, usually a year is known as
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Ibeere 44 Ìròyìn
Which of the following assets of the commercial bank does not yield revenue?
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Ibeere 45 Ìròyìn
When the average physical product curve is rising the marginal physical product is
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Ibeere 46 Ìròyìn
when the demand curve shift to the right it indicate that a larger quantity is demanded at each price. This is caused by one of the following
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Ibeere 49 Ìròyìn
Which of the following is not true of the theory of optimum population?
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