JAMB UTME - Economics - 1984

In the diagram, the supply curve So So shifts to a new position S₁ S₁ to indicate

Let P x represent the price of exports and Pm the price of imports. Then the terms of trade (TOT) are said to be favourable if

Division of labour is limited by?

If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

pricing and output decisions of sellers are highly interdependent in markets known as?

The diagram illustrates

An improvement in Nigeria's terms of trade should

The most important factor determining the location of the cement industry in Nigeria today is ?

The channel for food distribution in Nigeria consist of?

One of the advantages of large - scale production is that

Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

The advantages that accrue to a firm as the size of the firm increases are known as

The population level that yields the maximum output when combined with available resources is known as

Which of the following is NOT true of debentures and debenture holders?

In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

Which Of the following is NOT an obstacle to economic development?

A rightward shift in the production possibility frontier may be due to

Generally, property taxes?

In taxation, the benefit principle requires that?

The question below is based on the table below:

The international production set for Nigeria and Austria is:

From the table, it can be deduced that?

For a non-discriminating monopolist in Nigeria, price at the profit maximizing output is

In the diagram I refers to the calculation of national income through the

The economic goal of public utilities is to?

Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?

One disadvantage of sole proprietorship is its?

A demand curve slopes downwards because of ?

The most important characteristic of money is?

Which Of the following is NOT an obstacle to economic development?

The Central Bank instrument of control does NOT include

If a person demands money for buying and selling securities. It is referred as demanding money for

The control of prices by legislation usually produces a number of consequences. Which of the following is NOT an association problem of maximum price control?

A perfectly competitive firm does not influence the demand for its commodities bylowering its price below the market price because?

Demand for a commodity by a consumer is the quantity of that commodity that the consumer

Which of the following is NOT a determinant of the size economically active population?

In the diagram III refers to the calculationof national income through the

In the diagram, (III) refers to the calculation of national income through the

Which of the following does NOT represent the behavior of a monopolist?

Which of the following items does NOT belong to a country's current account in the balance of payments accounts?

For two substitution goods, the cross elastic of demand is?

The main economic objective behind the production of goods and services in any economy is to?

One of the major effects of an increase in government expenditure on a nation’s economy is that it?

The basic principles of co-operative societies are those of?

Cost push inflation takes place due to?

Which of the following is NOT a feature of economic underdevelopment of a country?

The following except ONE, are the differences between international trade and internal trade?

The question below is based on the table below:

The international production set for Nigeria and Austria is:

The opportunity cost ratio for cocoa and lace for Austria and Nigeria is

Public expenditure on services, such as education and health, is known as expenditure on

An imperfectly competitive market is one where?

The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?

In the diagram, (I) refers to the calculation of national income through the