JAMB UTME - Economics - 1987
Pergunta 1 Relatório
The study of economic behavior of individual decision-making units (consumers, resources owners and business firms) in a free-enterprise economy is known as?
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Pergunta 3 Relatório
Which of the following best describes the concept of opportunity cost?
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Pergunta 4 Relatório
In the process of shopping, Mr. X whose wages per month does not exceed N200, finds that the price of a commodity he used to purchase with a fixed amount of N200 has risen to N230,. He therefore decides not to buy this commodity at all. Mr. X is thus affected by the?
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Pergunta 6 Relatório
Which of the following best explains the structural changes in the population of a country?
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Pergunta 8 Relatório
A budget with a projected revenue in excess of its expenditure is said to be?
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Pergunta 9 Relatório
Which of the following is a disadvantage of regional concentration of industries?
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Pergunta 10 Relatório
A shift in the demand curve for commodity when the supply curve is vertical will lead to a change in the?
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Pergunta 11 Relatório
For the improvement of the welfare of a people, a high production level is not enough because
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Pergunta 13 Relatório
The residual of production which accrues to the owner of land after all other expenses have been met is called?
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Pergunta 14 Relatório
Statistical information available in most West African countries suggests that?
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Pergunta 16 Relatório
Which of the following is NOT a type of business ownership?
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Pergunta 19 Relatório
In the history of Economic Thought the concept of Division of labour is usually associated with?
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Pergunta 21 Relatório
The shut-down point for a firm in the short run is the output at which?
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Pergunta 23 Relatório
The form of capital which is usually consumed or transformed into finished goods and services in the production process is called?
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Pergunta 25 Relatório
In the operation of market forces, the market is in equilibrium at the point where?
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Pergunta 26 Relatório
The additional revenue obtained by using one more unit of a factor is called its?
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Pergunta 27 Relatório
In which of the diagrams above, is the consumer surplus correctly shaded?
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Pergunta 30 Relatório
What form of market is found in an imperfect competition where there are few buyers and many sellers?
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Pergunta 32 Relatório
A production possibility curve shows?
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The production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
Pergunta 34 Relatório
The difference between personal income and personal disposal income is?
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Pergunta 39 Relatório
Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. The market demand curve for the commodity cuts the quantity axis when quantity is
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Pergunta 41 Relatório
In the diagram, above Ps is the supply curve for a particular commodity, while OP is the price which of the following statements is correct?
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Pergunta 42 Relatório
Which of the following is compatible with a firm in a purely competitive market?
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Pergunta 43 Relatório
The money which government spends yearly for the maintenance of its school is?
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Pergunta 44 Relatório
Given an original price of N3.50 per kilogram of rice and a change in price of 1.40, and given the quantity purchase at the old price as 10kg and a change in the quality as 5kg after the price change, the elasticity is equal to?
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Pergunta 45 Relatório
Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. What is market demand for the commodity when price is N5?
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Pergunta 46 Relatório
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
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Pergunta 48 Relatório
The rate of exchange between a domestic and a foreign currency is defined as the?
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Pergunta 50 Relatório
Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?
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