JAMB UTME - Economics - 1986

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

A society which forgoes present consumption

Mobility of labour is NOT affected by

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

The best technical description of a progressive tax is a?

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

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 an important function of prices in a market economy?

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

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

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

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

Which of the following statements describes a mixed economy?

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

The term balance oftrade, can be defined as the?

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

The degree of specialization is limited by the

A country has a population distribution as shown below:

The dependency ratio is

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?

Choice in economic life is necessitated by?

In drawing an individual's demand curve for a commodity, which of the following is not kept constant? The

Balance of payment deficit in Nigeria CANNOT be solved by

The Nigeria Bank for Commerce and Industry is?

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

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

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

A producer sustains a loss in the short run if

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

The main function of price mechanism is to?

The most important advantage of co-operative societies is?

Production in Economics can be defined as the

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

An nation's distribution of income shows?

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

A firm is at its optimum size when?

Tax incidence is the analysis of?

ECOWAS will enable the countries involved to achieve

A monopolist will practice price discrimination in two markets if?

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

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?

Gresham's law in economics shows that

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

Which of the following is a characteristic of private limited liability company?

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

Under normal circumstances the concept of consumers sovereignty implies that

Population density refers to?

In a public company, shares are?

A firm achieves least cost in production by substituting factors until

One major difference between monopoly and perfect competition is that?