JAMB UTME - Economics - 1985

Under perfect competition, the long-run equilibrium requires?

Disguised unemployment

Which of the following is NOT a part of the fixed costs of a limited liability company?

Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?

How many National Development Plans did Nigeria have between 1960 and 1984?

In the table, the marginal cost when output is two, units is

The argument of tariff protection in less developed economies is that such a measure would

Warehousing facilities in the distribution and marketing of products are provided by?

One main quality of a good is that it

Because money serves as a standard for deferred payments

By terms of trade, we mean the?

The process by which a country attempts to reduce the import of manufactured goods at home is described as?

In the figure above, the broken line labelled M is the marginal revenue curve of a

Which of the following is NOT a feature of underdevelopment?

When total revenue is at a maximum, marginal revenue is?

Under normal circumstances a producer will bear the entire burden of taxation on his output if the?

The amount of labour a producer hires relative to labour factor inputs depends on the?

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?

Study the figure above. At paint H the price elasticity of supply is

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?

Optimum population is desirable because it enables an economy to obtain maximum?

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?

The age distribution of a population is NOT influenced by?

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

At every point on a indifference curve, the

The interdependence between households and business enterprises illustrated in the figure is known as

Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?

When a business has unlimited liability

The meaning of scale of preference is?

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

An example of a regressive tax is?

The petro- chemical industries are located in the River State of Nigeria due to?

If monopoly is attempting to maximize profit which of the following should it attempt to do?

A firm is said to be a public Joint Stock Company when it?

A state budget is an outline of planned

Tax which is levied on goods manufactured, sold or used within a country is?

One of the functions of the commercial banks is that it is?

Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

Limited liability means?

The purchasing power of the naira will fall when?

Which of the following is a necessary prerequisite for trade by barter?

Foreign exchange control in Nigeria is administered by the?

The act of combining factor inputs in order to obtain specific output is known as

An economic problem exists whenever

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

The unemployment associated with a recession is called?

The table above illustrates the law of

If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

In market economies, resources are allocated through the?