JAMB UTME - Economics - 1986

Under normal circumstances the concept of consumers sovereignty implies that

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

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

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

The most important advantage of co-operative societies is?

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

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?

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

One major difference between monopoly and perfect competition is that?

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

The term balance oftrade, can be defined as the?

The best technical description of a progressive tax is a?

Population density refers to?

A monopolist will practice price discrimination in two markets if?

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

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

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

Which of the following statements describes a mixed economy?

ECOWAS will enable the countries involved to achieve

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

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

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

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

Production in Economics can be defined as the

Balance of payment deficit in Nigeria CANNOT be solved by

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

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?

In a public company, shares are?

A firm is at its optimum size when?

A producer sustains a loss in the short run if

A society which forgoes present consumption

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

A country has a population distribution as shown below:

The dependency ratio is

The Nigeria Bank for Commerce and Industry is?

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

Mobility of labour is NOT affected by

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

An nation's distribution of income shows?

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

The degree of specialization is limited by the

The main function of price mechanism is to?

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

Tax incidence is the analysis of?

A firm achieves least cost in production by substituting factors until

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

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

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

Choice in economic life is necessitated by?

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

Gresham's law in economics shows that