JAMB UTME - Economics - 1986

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

Maelezo ya Majibu

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

Maelezo ya Majibu

Production in Economics can be defined as the

Maelezo ya Majibu

ECOWAS will enable the countries involved to achieve

Maelezo ya Majibu

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?

Maelezo ya Majibu

The degree of specialization is limited by the

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

The Nigeria Bank for Commerce and Industry is?

Maelezo ya Majibu

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

Maelezo ya Majibu

Balance of payment deficit in Nigeria CANNOT be solved by

Maelezo ya Majibu

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

Maelezo ya Majibu

Choice in economic life is necessitated by?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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?

Maelezo ya Majibu

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

Maelezo ya Majibu

Which of the following is an important function of prices in a market economy?

Maelezo ya Majibu

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

Maelezo ya Majibu

Which of these is the real cost of satisfying any want in the sense of the alternative that has to be foregone?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

Tax incidence is the analysis of?

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

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

Maelezo ya Majibu

Under normal circumstances the concept of consumers sovereignty implies that

Maelezo ya Majibu

Which of the following statements describes a mixed economy?

Maelezo ya Majibu

A monopolist will practice price discrimination in two markets if?

Maelezo ya Majibu

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

Maelezo ya Majibu

An nation's distribution of income shows?

Maelezo ya Majibu

Mobility of labour is NOT affected by

Maelezo ya Majibu

A country has a population distribution as shown below:

The dependency ratio is

Maelezo ya Majibu

The best technical description of a progressive tax is a?

Maelezo ya Majibu

The most important advantage of co-operative societies is?

Maelezo ya Majibu

In a public company, shares are?

Maelezo ya Majibu

Gresham's law in economics shows that

Maelezo ya Majibu

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

Maelezo ya Majibu

A producer sustains a loss in the short run if

Maelezo ya Majibu

A firm achieves least cost in production by substituting factors until

Maelezo ya Majibu

Which of the following is NOT a goal of modern budgets?

Maelezo ya Majibu

One major difference between monopoly and perfect competition is that?

Maelezo ya Majibu

A society which forgoes present consumption

Maelezo ya Majibu

A firm is at its optimum size when?

Maelezo ya Majibu

Population density refers to?

Maelezo ya Majibu

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

Maelezo ya Majibu

The main function of price mechanism is to?

Maelezo ya Majibu

The term balance oftrade, can be defined as the?

Maelezo ya Majibu

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

Maelezo ya Majibu