JAMB UTME - Economics - 1987
Question 2 Rapport
The rate of exchange between a domestic and a foreign currency is defined as the?
Détails de la réponse
Question 3 Rapport
The study of economic behavior of individual decision-making units (consumers, resources owners and business firms) in a free-enterprise economy is known as?
Détails de la réponse
Question 4 Rapport
A budget with a projected revenue in excess of its expenditure is said to be?
Détails de la réponse
Question 6 Rapport
Which of the following is a disadvantage of regional concentration of industries?
Détails de la réponse
Question 7 Rapport
The additional revenue obtained by using one more unit of a factor is called its?
Détails de la réponse
Question 8 Rapport
In the process of shopping, Mr. X whose wages per month does not exceed N200, finds that the price of a commodity he used to purchase with a fixed amount of N200 has risen to N230,. He therefore decides not to buy this commodity at all. Mr. X is thus affected by the?
Détails de la réponse
Question 9 Rapport
Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. The market demand curve for the commodity cuts the quantity axis when quantity is
Détails de la réponse
Question 11 Rapport
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
Détails de la réponse
Question 15 Rapport
Statistical information available in most West African countries suggests that?
Détails de la réponse
Question 16 Rapport
Which of the following best describes the concept of opportunity cost?
Détails de la réponse
Question 18 Rapport
For the improvement of the welfare of a people, a high production level is not enough because
Détails de la réponse
Question 19 Rapport
Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?
Détails de la réponse
Question 20 Rapport
Given an original price of N3.50 per kilogram of rice and a change in price of 1.40, and given the quantity purchase at the old price as 10kg and a change in the quality as 5kg after the price change, the elasticity is equal to?
Détails de la réponse
Question 22 Rapport
What form of market is found in an imperfect competition where there are few buyers and many sellers?
Détails de la réponse
Question 23 Rapport
In which of the diagrams above, is the consumer surplus correctly shaded?
Détails de la réponse
Question 24 Rapport
The difference between personal income and personal disposal income is?
Détails de la réponse
Question 27 Rapport
A shift in the demand curve for commodity when the supply curve is vertical will lead to a change in the?
Détails de la réponse
Question 28 Rapport
The form of capital which is usually consumed or transformed into finished goods and services in the production process is called?
Détails de la réponse
Question 29 Rapport
In the history of Economic Thought the concept of Division of labour is usually associated with?
Détails de la réponse
Question 30 Rapport
In the operation of market forces, the market is in equilibrium at the point where?
Détails de la réponse
Question 34 Rapport
The money which government spends yearly for the maintenance of its school is?
Détails de la réponse
Question 35 Rapport
Which of the following is compatible with a firm in a purely competitive market?
Détails de la réponse
Question 36 Rapport
Which of the following best explains the structural changes in the population of a country?
Détails de la réponse
Question 37 Rapport
In the diagram, above Ps is the supply curve for a particular commodity, while OP is the price which of the following statements is correct?
Détails de la réponse
Question 38 Rapport
The residual of production which accrues to the owner of land after all other expenses have been met is called?
Détails de la réponse
Question 41 Rapport
The shut-down point for a firm in the short run is the output at which?
Détails de la réponse
Question 43 Rapport
Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. What is market demand for the commodity when price is N5?
Détails de la réponse
Question 48 Rapport
Which of the following is NOT a type of business ownership?
Détails de la réponse
Question 49 Rapport
A production possibility curve shows?
Détails de la réponse
The production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
