JAMB UTME - Economics - 1984

In taxation, the benefit principle requires that?

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Demand for a commodity by a consumer is the quantity of that commodity that the consumer

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pricing and output decisions of sellers are highly interdependent in markets known as?

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Public expenditure on services, such as education and health, is known as expenditure on

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Which of the following items does NOT belong to a country's current account in the balance of payments accounts?

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If a person demands money for buying and selling securities. It is referred as demanding money for

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A perfectly competitive firm does not influence the demand for its commodities bylowering its price below the market price because?

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The most important factor determining the location of the cement industry in Nigeria today is ?

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The basic principles of co-operative societies are those of?

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One of the major effects of an increase in government expenditure on a nation’s economy is that it?

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The following except ONE, are the differences between international trade and internal trade?

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The most important characteristic of money is?

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If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

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The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?

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Lord Keynes identified three motives for holding money, that is, keeping one’s resources in liquid form instead of in some form of investment. the motive which relates to making provision for the ‘rainy day’ is known as?

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Which of the following is NOT true of debentures and debenture holders?

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For a non-discriminating monopolist in Nigeria, price at the profit maximizing output is

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Cost push inflation takes place due to?

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One of the advantages of large - scale production is that

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The usage of machinery helps to oversee in a large scale of production which in turn covers the high amount in time consumption. This makes room for the efficiency of labour as compared to the usage of manpower.

The economic goal of public utilities is to?

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Let P x represent the price of exports and Pm the price of imports. Then the terms of trade (TOT) are said to be favourable if

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"$$P_{x}/P_{m} > 1$$"

Division of labour is limited by?

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A rightward shift in the production possibility frontier may be due to

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The question below is based on the table below:

The international production set for Nigeria and Austria is:

The opportunity cost ratio for cocoa and lace for Austria and Nigeria is

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For two substitution goods, the cross elastic of demand is?

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The control of prices by legislation usually produces a number of consequences. Which of the following is NOT an association problem of maximum price control?

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Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?

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The diagram illustrates

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The question below is based on the table below:

The international production set for Nigeria and Austria is:

From the table, it can be deduced that?

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Which Of the following is NOT an obstacle to economic development?

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In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

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Which Of the following is NOT an obstacle to economic development?

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A demand curve slopes downwards because of ?

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Which of the following is NOT a feature of economic underdevelopment of a country?

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The population level that yields the maximum output when combined with available resources is known as

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In the diagram, (I) refers to the calculation of national income through the

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Generally, property taxes?

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Which of the following does NOT represent the behavior of a monopolist?

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An imperfectly competitive market is one where?

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In the diagram, (III) refers to the calculation of national income through the

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The advantages that accrue to a firm as the size of the firm increases are known as

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The channel for food distribution in Nigeria consist of?

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An improvement in Nigeria's terms of trade should

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Which of the following is NOT a determinant of the size economically active population?

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One disadvantage of sole proprietorship is its?

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In the diagram III refers to the calculationof national income through the

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The main economic objective behind the production of goods and services in any economy is to?

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In the diagram, the supply curve So So shifts to a new position S₁ S₁ to indicate

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The Central Bank instrument of control does NOT include

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In the diagram I refers to the calculation of national income through the

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