JAMB UTME - Economics - 1981
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| Price per tin | Demand per week | Supply per week |
| ₦6 | 0 tins | 45 tins |
| ₦5 | 5 tins | 35 tins |
| ₦4 | 10 tins | 25 tins |
| ₦3 | 15 tins | 15 tins |
| ₦2 | 20 tins | 5 tins |
| ₦1 | 25 tins | 0 tins |
Market for Garri: At a price of N5, the excess supply is`
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Which of the following is NOT a characteristic of perfect competition?
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'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
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|
|
Sector 1 |
Sector 2 |
Sector 3 |
Sector 4 |
| Share in total National Output |
25% |
10% |
50% |
15% |
| Share in total Employment |
60% |
10% |
5% |
25% |
| Growth rate of Sectoral Output |
2% |
5% |
10% |
3% |
From the above, the Growth Rate of Total National Output or GDP is
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Which of the following does NOT belong in respect of the quantity of money?
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Which of the following statements does NOT describe a situation of perfect competition?
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Summary of product condition in countries i and ii
Amount of labour days, cocoa(tons) Cloth(tons)
Country i 200 600 900
country ii 200 300 800
From the above table, we can correctly say in respect of international trade that
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The process by which West African countries attempt to reduce the import of manufactured goods by encouraging firms to produce these goods at homes is known as?
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Prohibiting the sale of lace materials in Nigeria would probably lead to?
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Government in West Africa countries engage in running a number of enterprises because ?
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The situation whereby in a fiscal year a government’s revenue receipt are less than its expenditures is referred to as?
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Which of the following is NOT a visible iterm in international trade payments?`
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Which of the following is NOT a visible item on international trade payment?
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If the income of a consumer rises and his demand for good X falls, good X can be described as
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In this diagram, So So is the original supply curve while S1 S1 represent?
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If P8 and P9 represent the population of West African in 1978 and 1979 respectively, and given that in 1979.
D= number of deaths, B= number of births, I= number of immigrants, E= number of Emigrants. Then the size of the population in 1979 is given by
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Which of the following statement does NOT describe a situation of perfect competition.?
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The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
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An economy in which both the public and the private sectors contribute substantially to the growth of output is?
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Which of the following is NOT a major function of a Central Bank?
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Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?
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If a commodity has many substitutes, it is most likely that?
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Market Schedules for Milk:
| Price per tin | Quantity demanded (tins) | Quantity supplied (tins) |
| 8k | 25,000 | 7,500 |
| 10k | 23,000 | 9,000 |
| 13k | 20,000 | 11,500 |
| 15k | 18,000 | 13,000 |
| 18k | 15,000 | 15,000 |
| 20k | 13,000 | 17,500 |
| 23k | 10,000 | 21,000 |
| 25k | 8,000 | 24,000 |
From the market demand and supply schedules for milk, we can say that equilibrium price and quantity are
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Which of the following is NOT true about specialization or division of labour?
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A movement along a given demand curve for a good is caused by a change in
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Which of the following statement is NOT true about agriculture in West Africa?
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Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
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Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
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An increase in the price of butter causes an increase in the demand for margarine. This indicate that butter and margarine are?
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|
|
Amount of labour days |
Cocoa (tons) |
Cloth (metres) |
| Country I |
200 |
600 |
900 |
| Country II |
200 |
300 |
800 |
Summary of production conditions in countries l and ll.
From the table, we can correctly say in respect of international trade that
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