1988 JAMB UTME Economics Past Questions

1988

Scarcity in economics means that?

1988

The average product of labour in a given period is obtained by dividing the?

1988

Air is essential to life but commands no price!Diamond is not essential to life but commands a high?

1988

Ufuoma is a consumer. His scale of preference shows that he prefers a pair of shoes to a wrist watch; he prefers the wrist watch to a pair of trousers; he prefers the pair of trousers to the pair of shoes. This means tha…

1988

When a variable is associated with time period, it is?

1988

Economic is often described as a science because?

1988

Total fixed cost measures the cost of?

1988

The assumption of profit maximization implies profit?

1988

The law of Diminishing Returns begins to operate when?

1988

Which of the following BEST describes the production function?

1988

Development outside a given firm which reduce the firm costs are called?

1988

One factor which influences the slope of a non-linear demand curve for a commodity is the?

1988

Which of the following changes in equilibrium price and quantity is as a result of an upward shift in the market demand for a commodity?

1988

If goods were free, a rational consumer would consume?

1988

A commodity is said to have a derived demand when the commodity

1988

The output at which total revenue equals total cost is known as?

1988

In the short run, the monopolistic competitors?

1988

Which of the following is TRUE at the quantity of output where Average Cost (AC) per unit has reached its minimum level?

1988

1988 JAMB UTME Economics Past Questions

Scarcity in economics means that?

The average product of labour in a given period is obtained by dividing the?

Air is essential to life but commands no price!Diamond is not essential to life but commands a high?

Ufuoma is a consumer. His scale of preference shows that he prefers a pair of shoes to a wrist watch; he prefers the wrist watch to a pair of trousers; he prefers the pair of trousers to the pair of shoes. This means tha…

When a variable is associated with time period, it is?

Economic is often described as a science because?

Total fixed cost measures the cost of?

The assumption of profit maximization implies profit?

The law of Diminishing Returns begins to operate when?

Which of the following BEST describes the production function?

Development outside a given firm which reduce the firm costs are called?

One factor which influences the slope of a non-linear demand curve for a commodity is the?

Which of the following changes in equilibrium price and quantity is as a result of an upward shift in the market demand for a commodity?

If goods were free, a rational consumer would consume?

A commodity is said to have a derived demand when the commodity

The output at which total revenue equals total cost is known as?

In the short run, the monopolistic competitors?

Which of the following is TRUE at the quantity of output where Average Cost (AC) per unit has reached its minimum level?

If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?

Total revenue is always equal to?