JAMB UTME - Economics - 1986

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

The main function of price mechanism is to?

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

Production in Economics can be defined as the

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

Choice in economic life is necessitated by?

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

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

A firm achieves least cost in production by substituting factors until

The term balance oftrade, can be defined as the?

An nation's distribution of income shows?

Gresham's law in economics shows that

In a public company, shares are?

A monopolist will practice price discrimination in two markets if?

The best technical description of a progressive tax is a?

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

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

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

Which of the following statements describes a mixed economy?

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

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

The most important advantage of co-operative societies is?

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

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

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

A firm is at its optimum size when?

Tax incidence is the analysis of?

A country has a population distribution as shown below:

The dependency ratio is

A society which forgoes present consumption

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

A producer sustains a loss in the short run if

Mobility of labour is NOT affected 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?

Population density refers to?

One major difference between monopoly and perfect competition is that?

ECOWAS will enable the countries involved to achieve

Balance of payment deficit in Nigeria CANNOT be solved by

The Nigeria Bank for Commerce and Industry is?

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

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 is a characteristic of private limited liability company?

The degree of specialization is limited by the

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

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?

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

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

Under normal circumstances the concept of consumers sovereignty implies that

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

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