1991 JAMB UTME Economics Past Questions

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1991

If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases from 200 to 300, the point elasticity of demand is equal to____________

1991

Economic goods are termed scarce goods when they are?

1991

in market economy, the question of what, how and for whom to produce are solved the

1991

At any given level of output, a firm's total variable cost equals ?

1991

At any given level of output, the total cost of a firm equals the?

1991

If units of a variable factor are increasingly added to a fixed factor and the marginal physical product keeps increasing, production is said to be taking place under conditions of?

1991

Macroeconomics is a study of economics science from the point of view of?

1991

A school girl who needs a book and mirror, each coasting five naira, decides to purchase the book instead of the mirror since she cannot pay for the two at the same time. Determined the real cost of her book.

1991

Resources are efficiently allocated when production takes place at that output where price equals?

1991

The cross-elasticity of demand between complementary goods is?

1991

A market is in disequilibrium if

1991

If a society is operating on the production possibility curve, this implies that the resources are?

1991

If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases from 200 to 300, the point elasticity of demand is equal to?

1991

One of the most outstanding disadvantages of co-operative societies as business organization is that?

1991

A possible factor which limits the extent of growth of a firm is the?

1991

The ordinary partner in a partnership?

1991

In a perfectly competitive market, the firm is in long-run equilibrium at the output where?

1991

Comparison of the price and output decisions of a perfectly competitive firm with those of a monopolist shows that the?

1991

One of the functions of Development Banks is to

1991

One disadvantage of trade by barter is that?

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