JAMB UTME - Economics - 1983
Ibeere 2 Ìròyìn
Which of thefollowing items is NOT an argument for locating industries in rural areas?
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Ibeere 5 Ìròyìn
Comparative cost doctrine of international trade means specialization in production
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Ibeere 7 Ìròyìn
A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?
Ibeere 9 Ìròyìn
In perfect competition a firm's price is equal to its marginal revenue which is again equal to average revenue. This form maximizes its profits when its marginal cost (MC) is equal to price (p). Which of the curves in the diagram below represents the firm's marginal cost (MC)?
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Ibeere 10 Ìròyìn
Which of the following is NOT an advantage of localization of industries?
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Ibeere 13 Ìròyìn
When a government owns enterprises, a number of advantage arise. Which of thefollowing is NOT one of such advantages?
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Ibeere 18 Ìròyìn
If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will added less to the output than previous units of the labour. This concept is known as?
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Ibeere 21 Ìròyìn
Which of the following is NOT include in measuring national income by the income approach?
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Ibeere 26 Ìròyìn
The monetary system that requires double coincidence of want is known as?
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Ibeere 28 Ìròyìn
Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age?
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Ibeere 29 Ìròyìn
In the event of a limited liability company going into liquidation each
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Ibeere 36 Ìròyìn
Division of labour has many advantages . Not withstanding, it is greatly limited by?
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Ibeere 37 Ìròyìn
Which of the following enterprises does NOT pursue the sole objective of profit maximization?
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Ibeere 38 Ìròyìn
A greater burden of the taxes on essential goods is borne by the?
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Ibeere 39 Ìròyìn
The effect of emigration on a country's population, all other things remaining equal, is to
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Ibeere 40 Ìròyìn
If any economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvements in labour and capital combined, the balance of 3% is usually due to?
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Ibeere 41 Ìròyìn
The maintenance of general economic stability in the country necessarily relies heavily on?
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Ibeere 42 Ìròyìn
Which of the following sets fully represents factors of production?
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Ibeere 43 Ìròyìn
Production possibilities(alternatives)
P Q R S T
Units of shelter 5 4 3 2 0
Units of food 0 5 9 12 15 Basedon the above production possibilities table, the real cost of a unit of food when alternative R is selected is?
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Ibeere 45 Ìròyìn
Agriculture plays a dominant role in West Africa economics because
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Ibeere 49 Ìròyìn
A Nigerian household's demand curve for semovita is downward because?
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