JAMB UTME - Economics - 1981
Ibeere 1 Ìròyìn
An increase in the price of butter causes an increase in the demand for margarine. This indicate that butter and margarine are?
Awọn alaye Idahun
Ibeere 2 Ìròyìn
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
Awọn alaye Idahun
Ibeere 3 Ìròyìn
Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?
Awọn alaye Idahun
Ibeere 4 Ìròyìn
Which of the following is NOT true about specialization or division of labour?
Awọn alaye Idahun
Ibeere 5 Ìròyìn
Government in West Africa countries engage in running a number of enterprises because ?
Awọn alaye Idahun
Ibeere 7 Ìròyìn
A movement along a given demand curve for a good is caused by a change in
Awọn alaye Idahun
Ibeere 9 Ìròyìn
Which of the following is NOT a characteristic of perfect competition?
Awọn alaye Idahun
Ibeere 10 Ìròyìn
Which of these statement is NOT true of economics as a discipline?
Awọn alaye Idahun
Ibeere 14 Ìròyìn
Which of the following is NOT a visible item on international trade payment?
Awọn alaye Idahun
Ibeere 17 Ìròyìn
The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
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Ibeere 19 Ìròyìn
In this diagram, So So is the original supply curve while S1 S1 represent?
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Ibeere 20 Ìròyìn
Which of the following statements does NOT describe a situation of perfect competition?
Awọn alaye Idahun
Ibeere 24 Ìròyìn
|
|
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
Awọn alaye Idahun
Ibeere 29 Ìròyìn
If the income of a consumer rises and his demand for good X falls, good X can be described as
Awọn alaye Idahun
Ibeere 31 Ìròyìn
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?
Awọn alaye Idahun
Ibeere 33 Ìròyìn
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
Awọn alaye Idahun
Ibeere 35 Ìròyìn
An economy in which both the public and the private sectors contribute substantially to the growth of output is?
Awọn alaye Idahun
Ibeere 36 Ìròyìn
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
Awọn alaye Idahun
Ibeere 37 Ìròyìn
The situation whereby in a fiscal year a government’s revenue receipt are less than its expenditures is referred to as?
Awọn alaye Idahun
Ibeere 39 Ìròyìn
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
Awọn alaye Idahun
Ibeere 40 Ìròyìn
Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
Awọn alaye Idahun
Ibeere 41 Ìròyìn
Which of the following does NOT belong in respect of the quantity of money?
Ibeere 42 Ìròyìn
Prohibiting the sale of lace materials in Nigeria would probably lead to?
Awọn alaye Idahun
Ibeere 43 Ìròyìn
| 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`
Awọn alaye Idahun
Ibeere 44 Ìròyìn
Which of the following is NOT a visible iterm in international trade payments?`
Awọn alaye Idahun
Ibeere 45 Ìròyìn
Which of the following statement is NOT true about agriculture in West Africa?
Awọn alaye Idahun
Ibeere 46 Ìròyìn
Which of the following statement does NOT describe a situation of perfect competition.?
Awọn alaye Idahun
Ibeere 48 Ìròyìn
|
|
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
Awọn alaye Idahun
Ibeere 50 Ìròyìn
Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
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