JAMB UTME - Economics - 1981
Tambaya 2 Rahoto
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
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Tambaya 3 Rahoto
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?
Tambaya 6 Rahoto
Which of the following is NOT a characteristic of perfect competition?
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Tambaya 7 Rahoto
Government in West Africa countries engage in running a number of enterprises because ?
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Tambaya 9 Rahoto
Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
Tambaya 10 Rahoto
A movement along a given demand curve for a good is caused by a change in
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Tambaya 11 Rahoto
The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
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Tambaya 12 Rahoto
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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Tambaya 14 Rahoto
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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Tambaya 17 Rahoto
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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Tambaya 18 Rahoto
Which of the following does NOT belong in respect of the quantity of money?
Tambaya 19 Rahoto
Which of the following is NOT true about specialization or division of labour?
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Tambaya 21 Rahoto
Prohibiting the sale of lace materials in Nigeria would probably lead to?
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Tambaya 23 Rahoto
|
|
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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Tambaya 24 Rahoto
| 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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Tambaya 25 Rahoto
Which of the following is NOT a major function of a Central Bank?
Tambaya 26 Rahoto
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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Tambaya 28 Rahoto
If a commodity has many substitutes, it is most likely that?
Tambaya 29 Rahoto
Which of the following is NOT a visible iterm in international trade payments?`
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Tambaya 30 Rahoto
|
|
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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Tambaya 31 Rahoto
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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Tambaya 36 Rahoto
Which of the following statements does NOT describe a situation of perfect competition?
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Tambaya 38 Rahoto
In this diagram, So So is the original supply curve while S1 S1 represent?
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Tambaya 39 Rahoto
Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
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Tambaya 40 Rahoto
Which of the following statement does NOT describe a situation of perfect competition.?
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Tambaya 41 Rahoto
If the income of a consumer rises and his demand for good X falls, good X can be described as
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Tambaya 43 Rahoto
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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Tambaya 44 Rahoto
Which of the following is NOT a visible item on international trade payment?
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Tambaya 46 Rahoto
Which of the following statement is NOT true about agriculture in West Africa?
Tambaya 50 Rahoto
An economy in which both the public and the private sectors contribute substantially to the growth of output is?
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