JAMB UTME - Economics - 1983

The meaningof 'Dumping' is selling goods in a foreign market

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The concept of economic efficiency primary refers to?

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Disequilibrium in the balance of payment means?

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Agriculture plays a dominant role in West Africa economics because

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In the diagram P₁ S is a supply curve for a manufactured. its shows that

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International trade is necessary because?

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In an inflationary period which of the following statements is NOT true?

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Which of the following is NOT include in measuring national income by the income approach?

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The supply of loanable funds is significantly influenced by?

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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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When demand is elastic, it means that consumers

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What is the market equilibrium price?

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Which of the following enterprises does NOT pursue the sole objective of profit maximization?

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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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Marginal cost curve intersects average cost curve ?

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Retailers in an economy perform the function of

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A Nigerian household's demand curve for semovita is downward because?

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The effect of emigration on a country's population, all other things remaining equal, is to

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When a government owns enterprises, a number of advantage arise. Which of thefollowing is NOT one of such advantages?

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Which of the following sets fully represents factors of production?

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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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In the event of a limited liability company going into liquidation each

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A greater burden of the taxes on essential goods is borne by the?

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Petroleum 'glut' in international trade means

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Palm oil industry is located in Bendel State because the State?

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The curves D_o D_o and S_oS_o are the demand and supply curves respectively. What happens when government subsidizes producers in order to boost output?

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Mono production economies are those that?

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Age-structure in Nigeria is such that the working age-group is in the years

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Which of the following is NOT an advantage of localization of industries?

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NEPA as a public corporation is?

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The meaning of ‘wage-price spiral’ is?

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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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Which of the following are direct taxes?

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Full employment is a situation in which?

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The quickest way of achieving an economic union on regional basis is to remove all?

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The monetary system that requires double coincidence of want is known as?

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Comparative cost doctrine of international trade means specialization in production

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Which of thefollowing items is NOT an argument for locating industries in rural areas?

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Demand for a factor of production is?

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Which of the following defines Economics most comprehensively?

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A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?

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Public expenditure creates expansionary effects in the economy when it is

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Nigeria is currently implementing the?

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Division of labour has many advantages . Not withstanding, it is greatly limited by?

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In a sole proprietorship, the decisions are made by the?

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The maintenance of general economic stability in the country necessarily relies heavily on?

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The natural growth rate of a population is the

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Differentiated product is the characteristic feature of?

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A major function of middlemen in Nigeria is the distribution of?

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