JAMB UTME - Economics - 1981
Vraag 1 Verslag
Government in West Africa countries engage in running a number of enterprises because ?
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Vraag 2 Verslag
One of the probable effects of an increased minimum wage in Nigeria is?
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Vraag 5 Verslag
Which of the following does NOT belong in respect of the quantity of money?
Vraag 6 Verslag
In this diagram, So So is the original supply curve while S1 S1 represent?
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Vraag 7 Verslag
| 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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Vraag 8 Verslag
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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Vraag 11 Verslag
The infant industry argument for protection in developing countries recognizes the needs to employ tariffs to protect
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Vraag 12 Verslag
Which of the following is NOT a characteristic of perfect competition?
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Vraag 13 Verslag
|
|
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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Vraag 14 Verslag
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
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Vraag 15 Verslag
|
|
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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Vraag 16 Verslag
Which of the following statement is NOT true about agriculture in West Africa?
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Vraag 17 Verslag
Which of the following is NOT a visible iterm in international trade payments?`
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Vraag 18 Verslag
Which of the following is NOT true about specialization or division of labour?
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Vraag 19 Verslag
Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?
Vraag 20 Verslag
A movement along a given demand curve for a good is caused by a change in
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Vraag 24 Verslag
Which of the following statement does NOT describe a situation of perfect competition.?
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Vraag 25 Verslag
Which of the following statements does NOT describe a situation of perfect competition?
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Vraag 26 Verslag
Which of the following is NOT a major function of a Central Bank?
Vraag 29 Verslag
If a commodity has many substitutes, it is most likely that?
Vraag 31 Verslag
An economy in which both the public and the private sectors contribute substantially to the growth of output is?
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Vraag 32 Verslag
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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Vraag 34 Verslag
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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Vraag 35 Verslag
Which of the following is NOT a visible item on international trade payment?
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Vraag 39 Verslag
Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?
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Vraag 40 Verslag
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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Vraag 41 Verslag
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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Vraag 43 Verslag
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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Vraag 46 Verslag
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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Vraag 49 Verslag
Prohibiting the sale of lace materials in Nigeria would probably lead to?
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Vraag 50 Verslag
If the income of a consumer rises and his demand for good X falls, good X can be described as
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