JAMB UTME - Economics - 1981
Ajụjụ 2 Ripọtì
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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Ajụjụ 3 Ripọtì
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Ajụjụ 4 Ripọtì
Ajụjụ 5 Ripọtì
Ajụjụ 6 Ripọtì
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Ajụjụ 8 Ripọtì
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Ajụjụ 9 Ripọtì
Which of the following is NOT a visible iterm in international trade payments?`
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Ajụjụ 10 Ripọtì
|
|
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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Ajụjụ 12 Ripọtì
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Ajụjụ 14 Ripọtì
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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Ajụjụ 16 Ripọtì
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Ajụjụ 17 Ripọtì
Ajụjụ 18 Ripọtì
Which of the following statements does NOT describe a situation of perfect competition?
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Ajụjụ 20 Ripọtì
An increase in the price of butter causes an increase in the demand for margarine. This indicate that butter and margarine are?
Ajụjụ 21 Ripọtì
Ajụjụ 23 Ripọtì
Ajụjụ 24 Ripọtì
Ajụjụ 26 Ripọtì
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Ajụjụ 29 Ripọtì
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Ajụjụ 31 Ripọtì
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Ajụjụ 32 Ripọtì
In this diagram, So So is the original supply curve while S1 S1 represent?
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Ajụjụ 33 Ripọtì
| 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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Ajụjụ 35 Ripọtì
Ajụjụ 36 Ripọtì
Ajụjụ 37 Ripọtì
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Ajụjụ 38 Ripọtì
Ajụjụ 41 Ripọtì
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Ajụjụ 42 Ripọtì
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Ajụjụ 43 Ripọtì
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Ajụjụ 47 Ripọtì
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Ajụjụ 49 Ripọtì
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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Ajụjụ 50 Ripọtì
|
|
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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