JAMB Economics 1989 Past Questions

In its simplified form, the circular flow of income concept refers to the?

The need to construct a scale of preference is necessitated by?

A shift in the production possibility frontier could result from?

The primary problem of Economics is?

Efficiency in production involves?

if X represent the factors of production and Y represent the factor price, which of the following sets of association is correct?

If the cost of production for a firm continues to increase as it output rises, the firm is said to be experiencing?

Given perfect competition in the capital market, the opportunity cost of capital is adequately reflected by the?

If a 10k per kg, 1000kg of yam were purchased and at 5k per kg, 1,500kg were purchased, the resultant point elasticity of demand is?

If, as the price of a commodity rises, the quantity demanded of the commodity remains the same, then the demand for the commodity is?

Which of the following factors is an important determinant of the magnitude of price elasticity of demand?

The marginal theory of distribution makes an assertion that the price of any factor depends upon its marginal?

In order to increase its profit margin, the monopolist can manipulate

For purely competitive industry, a fundamental requirement of the demand curve faced by individual firms is that it should be?

The merging of firms engage in different stages of production and marketing is called?

which of the following is an important function of the retailer?

One of the purposes of advertisement in marketing is to?

The size of a business units tends to be small if the activity?

Which type of business organization has the attribute effectively combining management with control?

The co-operative as a form of business organization differs from partnership by having?

the type of business finance that entitle the holder to a fixed rate of dividend is?

Which of the business organization listed below is characterized by limited authority and liability of the individual owners?

A company is said to be highly geared if the?

Industries that can be randomly located are characterized by?

The term 'double coincidence ' of wants is usually associated with a?

A major factor affecting the value of money is the?

Cost-push inflation is caused by?

The stock exchange market is where?

Commercial bank reserves at the Central Bank have the effect of?

A tax is defined as regressive if?

Government intervention in an economy is often justified on the group that?

The three groups of government revenue are?

The main objectives of public expenditure does NOT include?

A perfect example of a public good is?

A balance budget is defined as a condition of?

By using exchange controls, a country tries to eliminate a balance of payments deficit by?

The law of comparative advantage states that a country should specialize in the production of a commodity

International and inter-regional trade differ primarily because?

Optimum population is the population level at which?

The group of people engaged in banking or insurance services by occupational distributions are classified as?

The difference between gross national product and net national product is equal to?

The value of the total output produced within Nigeria by all residents (citizens and non-citizens) is referred to as the?

If C stands for consumption expenditure, I for investment, X for exports, and M for imports, then national income is?

A sustained increase in the per capita income of a country over a period of time is called?

The primary goal of development planning in Nigeria is to?

If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are

In the diagram above what happens when the minimum wage is fixed at OW?

The table gives the various levels of output (Q) and its corresponding total cost of production. (ITC) and total revenue (TR) for a firm. Which output level Q results in maximum profit?

The amount, N4.08 million, shown as balance in the table represents

The multiplier is defined as