JAMB UTME - Economics - 1985
Question 3 Report
By terms of trade, we mean the?
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Terms of trade (TOT) refers to the relative price of imports in terms of exports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.
Question 5 Report
One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?
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Question 6 Report
The interdependence between households and business enterprises illustrated in the figure is known as
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Question 7 Report
In the figure above, the broken line labelled M is the marginal revenue curve of a
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Question 9 Report
If monopoly is attempting to maximize profit which of the following should it attempt to do?
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Question 10 Report
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?
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Question 13 Report
Tax which is levied on goods manufactured, sold or used within a country is?
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Question 14 Report
Optimum population is desirable because it enables an economy to obtain maximum?
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Question 17 Report
The table illustrates the law of diminishing returns on a farm. Which pair of the following answers is appropriate for the missing information in the spaces market X and Y?
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Question 18 Report
The amount of labour a producer hires relative to labour factor inputs depends on the?
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Question 20 Report
How many National Development Plans did Nigeria have between 1960 and 1984?
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Question 23 Report
Which of the following is NOT among the canons of taxation as set out by Adam Smith?
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Question 24 Report
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?
Question 27 Report
Which of the following is NOT a part of the fixed costs of a limited liability company?
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Question 28 Report
Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?
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Question 30 Report
The process by which a country attempts to reduce the import of manufactured goods at home is described as?
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Question 31 Report
Study the figure above. At paint H the price elasticity of supply is
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Question 33 Report
If an economy grows at an annual rate of 6%, of which is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to
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Question 35 Report
The act of combining factor inputs in order to obtain specific output is known as
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Question 37 Report
Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?
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Question 39 Report
Warehousing facilities in the distribution and marketing of products are provided by?
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Question 42 Report
Which of the following is a necessary prerequisite for trade by barter?
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Question 43 Report
The inefficient distribution of scarce commodities in Nigeria is mostly due to the?
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Question 44 Report
Under normal circumstances a producer will bear the entire burden of taxation on his output if the?
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Question 45 Report
The argument of tariff protection in less developed economies is that such a measure would
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Question 46 Report
If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?
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Question 47 Report
A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?
Question 49 Report
An example of a regressive tax is?
Answer Details
Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.
Question 50 Report
The petro- chemical industries are located in the River State of Nigeria due to?
