JAMB UTME - Economics - 1983
Question 1 Report
If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will added less to the output than previous units of the labour. This concept is known as?
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Question 6 Report
Which of the following is NOT an advantage of localization of industries?
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Question 11 Report
When a government owns enterprises, a number of advantage arise. Which of thefollowing is NOT one of such advantages?
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Question 13 Report
In perfect competition a firm's price is equal to its marginal revenue which is again equal to average revenue. This form maximizes its profits when its marginal cost (MC) is equal to price (p). Which of the curves in the diagram below represents the firm's marginal cost (MC)?
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Question 15 Report
In the event of a limited liability company going into liquidation each
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Question 17 Report
The maintenance of general economic stability in the country necessarily relies heavily on?
Question 18 Report
Public expenditure creates expansionary effects in the economy when it is
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Question 19 Report
A Nigerian household's demand curve for semovita is downward because?
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Question 20 Report
A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?
Question 21 Report
Which of the following is NOT include in measuring national income by the income approach?
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Question 23 Report
In the diagram P1 S is a supply curve for a manufactured. its shows that
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Question 25 Report
Which of the following enterprises does NOT pursue the sole objective of profit maximization?
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Question 26 Report
The effect of emigration on a country's population, all other things remaining equal, is to
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Question 29 Report
Which of the following sets fully represents factors of production?
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Question 30 Report
In an inflationary period which of the following statements is NOT true?
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Question 31 Report
Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age?
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Question 33 Report
Comparative cost doctrine of international trade means specialization in production
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Question 34 Report
Which of thefollowing items is NOT an argument for locating industries in rural areas?
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Question 38 Report
The monetary system that requires double coincidence of want is known as?
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Question 41 Report
Production possibilities(alternatives)
P Q R S T
Units of shelter 5 4 3 2 0
Units of food 0 5 9 12 15 Basedon the above production possibilities table, the real cost of a unit of food when alternative R is selected is?
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Question 42 Report
The quickest way of achieving an economic union on regional basis is to remove all?
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Question 43 Report
Division of labour has many advantages . Not withstanding, it is greatly limited by?
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Question 44 Report
Age-structure in Nigeria is such that the working age-group is in the years
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Question 45 Report
The curves Do Do and SoSo are the demand and supply curves respectively. What happens when government subsidizes producers in order to boost output?
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Question 46 Report
If any economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvements in labour and capital combined, the balance of 3% is usually due to?
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Question 48 Report
Disequilibrium in the balance of payment means?
Question 50 Report
Agriculture plays a dominant role in West Africa economics because
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