JAMB UTME - Economics - 1986

The Nigeria Bank for Commerce and Industry is?

Awọn alaye Idahun

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?

Awọn alaye Idahun

A country has a population distribution as shown below:

The dependency ratio is

Awọn alaye Idahun

Mobility of labour is NOT affected by

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

Gresham's law in economics shows that

Awọn alaye Idahun

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

Awọn alaye Idahun

Tax incidence is the analysis of?

Awọn alaye Idahun

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

Awọn alaye Idahun

The degree of specialization is limited by the

Awọn alaye Idahun

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

Awọn alaye Idahun

The main function of price mechanism is to?

Awọn alaye Idahun

The most important advantage of co-operative societies is?

Awọn alaye Idahun

Population density refers to?

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

A firm achieves least cost in production by substituting factors until

Awọn alaye Idahun

A firm is at its optimum size when?

Awọn alaye Idahun

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

Awọn alaye Idahun

ECOWAS will enable the countries involved to achieve

Awọn alaye Idahun

The best technical description of a progressive tax is a?

Awọn alaye Idahun

A monopolist will practice price discrimination in two markets if?

Awọn alaye Idahun

A society which forgoes present consumption

Awọn alaye Idahun

One major difference between monopoly and perfect competition is that?

Awọn alaye Idahun

An nation's distribution of income shows?

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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?

Awọn alaye Idahun

Under normal circumstances the concept of consumers sovereignty implies that

Awọn alaye Idahun

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

Awọn alaye Idahun

A producer sustains a loss in the short run if

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

The term balance oftrade, can be defined as the?

Awọn alaye Idahun

Production in Economics can be defined as the

Awọn alaye Idahun

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

Awọn alaye Idahun

Choice in economic life is necessitated by?

Awọn alaye Idahun

Balance of payment deficit in Nigeria CANNOT be solved by

Awọn alaye Idahun

In a public company, shares are?

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

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

Awọn alaye Idahun

Which of the following statements describes a mixed economy?

Awọn alaye Idahun

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

Awọn alaye Idahun