JAMB UTME - Economics - 1985

Warehousing facilities in the distribution and marketing of products are provided by?

Maelezo ya Majibu

The argument of tariff protection in less developed economies is that such a measure would

Maelezo ya Majibu

Because money serves as a standard for deferred payments

Maelezo ya Majibu

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

Maelezo ya Majibu

The process by which a country attempts to reduce the import of manufactured goods at home is described as?

Maelezo ya Majibu

The age distribution of a population is NOT influenced by?

Maelezo ya Majibu

The act of combining factor inputs in order to obtain specific output is known as

Maelezo ya Majibu

Tax which is levied on goods manufactured, sold or used within a country is?

Maelezo ya Majibu

If an economy grows at an annual rate of 6%, of which is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to

Maelezo ya Majibu

Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?

Maelezo ya Majibu

At every point on a indifference curve, the

Maelezo ya Majibu

The purchasing power of the naira will fall when?

Maelezo ya Majibu

An example of a regressive tax is?

Maelezo ya Majibu

Examples of regressive taxes include sales taxes, user fees and, arguably, property taxes.

Study the figure above. At paint H the price elasticity of supply is

Maelezo ya Majibu

In the figure above, the broken line labelled M is the marginal revenue curve of a

Maelezo ya Majibu

Which of the following is a necessary prerequisite for trade by barter?

Maelezo ya Majibu

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

Maelezo ya Majibu

An economic problem exists whenever

Maelezo ya Majibu

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

Maelezo ya Majibu

By terms of trade, we mean the?

Maelezo ya Majibu

Terms of trade (TOT) refers to the relative price of imports in terms of exports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.

Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?

Maelezo ya Majibu

If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?

Maelezo ya Majibu

Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without visa for a period of?

Maelezo ya Majibu

The table above illustrates the law of

Maelezo ya Majibu

Disguised unemployment

Maelezo ya Majibu

One of the functions of the commercial banks is that it is?

Maelezo ya Majibu

Which of the following is NOT a feature of underdevelopment?

Maelezo ya Majibu

Under perfect competition, the long-run equilibrium requires?

Maelezo ya Majibu

The meaning of scale of preference is?

Maelezo ya Majibu

One main quality of a good is that it

Maelezo ya Majibu

In market economies, resources are allocated through the?

Maelezo ya Majibu

The unemployment associated with a recession is called?

Maelezo ya Majibu

When a business has unlimited liability

Maelezo ya Majibu

The amount of labour a producer hires relative to labour factor inputs depends on the?

Maelezo ya Majibu

The petro- chemical industries are located in the River State of Nigeria due to?

Maelezo ya Majibu

Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?

Maelezo ya Majibu

A state budget is an outline of planned

Maelezo ya Majibu

Which of the following is NOT a part of the fixed costs of a limited liability company?

Maelezo ya Majibu

A firm is said to be a public Joint Stock Company when it?

Maelezo ya Majibu

One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?

Maelezo ya Majibu

When total revenue is at a maximum, marginal revenue is?

Maelezo ya Majibu

Limited liability means?

Maelezo ya Majibu

Optimum population is desirable because it enables an economy to obtain maximum?

Maelezo ya Majibu

If monopoly is attempting to maximize profit which of the following should it attempt to do?

Maelezo ya Majibu

Under normal circumstances a producer will bear the entire burden of taxation on his output if the?

Maelezo ya Majibu

Foreign exchange control in Nigeria is administered by the?

Maelezo ya Majibu

How many National Development Plans did Nigeria have between 1960 and 1984?

Maelezo ya Majibu

The table illustrates the law of diminishing returns on a farm. Which pair of the following answers is appropriate for the missing information in the spaces market X and Y?

Maelezo ya Majibu

The interdependence between households and business enterprises illustrated in the figure is known as

Maelezo ya Majibu

In the table, the marginal cost when output is two, units is

Maelezo ya Majibu