JAMB UTME - Economics - 1986

Under normal circumstances the concept of consumers sovereignty implies that

Antwortdetails

If a person receives a higher wage than would be necessary to induce him to work, he is said to be receiving

Antwortdetails

A country has a population distribution as shown below:

The dependency ratio is

Antwortdetails

Which of the following strategies will provide more employment opportunities for Nigerians?

Antwortdetails

Population density refers to?

Antwortdetails

In drawing an individual's demand curve for a commodity, which of the following is not kept constant? The

Antwortdetails

Which of the following methods is most likely to lead an economy?

Antwortdetails

A producer sustains a loss in the short run if

Antwortdetails

The Nigeria Bank for Commerce and Industry is?

Antwortdetails

Given that beef and fish are substitutes, a rise in the price of beef relative to that of fish will?

Antwortdetails

The most important economic characteristic differentiating commercial banks from other financial institutions is their?

Antwortdetails

Which of the following causes of inflation is related to demand-pull inflation?

Antwortdetails

One major difference between monopoly and perfect competition is that?

Antwortdetails

Which of the following is used by the Central Bank to control the rate of interest?

Antwortdetails

A firm is at its optimum size when?

Antwortdetails

Balance of payment deficit in Nigeria CANNOT be solved by

Antwortdetails

The degree of specialization is limited by the

Antwortdetails

Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?

Antwortdetails

A firm achieves least cost in production by substituting factors until

Antwortdetails

The difference between the Gross Domestic Product and the Gross National Product is?

Antwortdetails

ECOWAS will enable the countries involved to achieve

Antwortdetails

The revenue accruing to the seller of commodity X as a result of a fall in price will

Antwortdetails

The term of trade often measured by the ratio of the index of export

Antwortdetails

The best technical description of a progressive tax is a?

Antwortdetails

Use the table below to answer the question below:

Market Demand Schedule for Commodity X:

If the price of commodity X falls from N40.00 to N30.00 what is the price elasticity of demand?

Antwortdetails

Which of the following statements describes a mixed economy?

Antwortdetails

Choice in economic life is necessitated by?

Antwortdetails

Gresham's law in economics shows that

Antwortdetails

Which of the following is NOT a goal of modern budgets?

Antwortdetails

A society which forgoes present consumption

Antwortdetails

In a public company, shares are?

Antwortdetails

Production in Economics can be defined as the

Antwortdetails

Which of these is the real cost of satisfying any want in the sense of the alternative that has to be foregone?

Antwortdetails

Which of the following is an important function of prices in a market economy?

Antwortdetails

Mobility of labour is NOT affected by

Antwortdetails

Deflation is a persistent fall in the general price level and is usually caused by?

Antwortdetails

Which of the following is a characteristic of private limited liability company?

Antwortdetails

Which of the following is an external economy derived by a firm?

Antwortdetails

What fundamentally determines how much a consumer spends in a producer's shop?

Antwortdetails

In the normal channels of distribution the breaking of bulk is performed by the

Antwortdetails

To control inflation, the monetary authorities of a country can?

Antwortdetails

Tax incidence is the analysis of?

Antwortdetails

An nation's distribution of income shows?

Antwortdetails

In international trade, a country specializes in the production of a commodity or group of commodities for which it has?

Antwortdetails

The main function of price mechanism is to?

Antwortdetails

One of the advantages of a partnership over a sole proprietorship is that?

Antwortdetails

A monopolist will practice price discrimination in two markets if?

Antwortdetails

Which of the following advantages of localization of industries may also be a disadvantage?

Antwortdetails

The term balance oftrade, can be defined as the?

Antwortdetails

The most important advantage of co-operative societies is?

Antwortdetails