JAMB UTME - Economics - 1983

Full employment is a situation in which?

Awọn alaye Idahun

Differentiated product is the characteristic feature of?

Awọn alaye Idahun

In the event of a limited liability company going into liquidation each

Awọn alaye Idahun

Retailers in an economy perform the function of

Awọn alaye Idahun

Division of labour has many advantages . Not withstanding, it is greatly limited by?

Awọn alaye Idahun

Nigeria is currently implementing the?

Awọn alaye Idahun

Which of the following are direct taxes?

Awọn alaye Idahun

Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age?

Awọn alaye Idahun

Petroleum 'glut' in international trade means

Awọn alaye Idahun

Which of the following enterprises does NOT pursue the sole objective of profit maximization?

Awọn alaye Idahun

NEPA as a public corporation is?

Awọn alaye Idahun

Disequilibrium in the balance of payment means?

Awọn alaye Idahun

In an inflationary period which of the following statements is NOT true?

Awọn alaye Idahun

Marginal cost curve intersects average cost curve ?

Awọn alaye Idahun

Which of the following is NOT an advantage of localization of industries?

Awọn alaye Idahun

The maintenance of general economic stability in the country necessarily relies heavily on?

Awọn alaye Idahun

Mono production economies are those that?

Awọn alaye Idahun

The effect of emigration on a country's population, all other things remaining equal, is to

Awọn alaye Idahun

Palm oil industry is located in Bendel State because the State?

Awọn alaye Idahun

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)?

Awọn alaye Idahun

In a sole proprietorship, the decisions are made by the?

Awọn alaye Idahun

A major function of middlemen in Nigeria is the distribution of?

Awọn alaye Idahun

International trade is necessary because?

Awọn alaye Idahun

In the diagram P₁ S is a supply curve for a manufactured. its shows that

Awọn alaye Idahun

Comparative cost doctrine of international trade means specialization in production

Awọn alaye Idahun

A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?

Awọn alaye Idahun

The meaningof 'Dumping' is selling goods in a foreign market

Awọn alaye Idahun

The monetary system that requires double coincidence of want is known as?

Awọn alaye Idahun

Which of the following defines Economics most comprehensively?

Awọn alaye Idahun

Awọn alaye Idahun

Which of the following is NOT include in measuring national income by the income approach?

Awọn alaye Idahun

The supply of loanable funds is significantly influenced by?

Awọn alaye Idahun

Age-structure in Nigeria is such that the working age-group is in the years

Awọn alaye Idahun

The natural growth rate of a population is the

Awọn alaye Idahun

The curves D_o D_o and S_oS_o are the demand and supply curves respectively. What happens when government subsidizes producers in order to boost output?

Awọn alaye Idahun

A greater burden of the taxes on essential goods is borne by the?

Awọn alaye Idahun

The quickest way of achieving an economic union on regional basis is to remove all?

Awọn alaye Idahun

Public expenditure creates expansionary effects in the economy when it is

Awọn alaye Idahun

Demand for a factor of production is?

Awọn alaye Idahun

Which of thefollowing items is NOT an argument for locating industries in rural areas?

Awọn alaye Idahun

When a government owns enterprises, a number of advantage arise. Which of thefollowing is NOT one of such advantages?

Awọn alaye Idahun

When demand is elastic, it means that consumers

Awọn alaye Idahun

The meaning of ‘wage-price spiral’ is?

Awọn alaye Idahun

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?

Awọn alaye Idahun

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?

Awọn alaye Idahun

The concept of economic efficiency primary refers to?

Awọn alaye Idahun

What is the market equilibrium price?

Awọn alaye Idahun

A Nigerian household's demand curve for semovita is downward because?

Awọn alaye Idahun

Agriculture plays a dominant role in West Africa economics because

Awọn alaye Idahun

Which of the following sets fully represents factors of production?

Awọn alaye Idahun