1992 JAMB UTME Economics Past Questions

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1992

Which of the following best describes scarcity, the basic economic problem?

1992

Young workers move from rural to urban areas in Nigeria. Use this model:Workers are equally productive. Land, capital and technology stay fixed. Marginal product, the extra output from one more worker, stays positive but…

1992

Which of these is a broad social and economic benefit of voluntary family planning in Nigeria?

1992

Which of the following is applicable in a wholly capitalist economy?

1992

For an economy which last year produced only two commodities X and Y, the real cost of the quantity of X which it produced can be measured by the?

1992

Scale of preference refers to?

1992

If demand remains relatively inelastic over a price increase, with other conditions unchanged, which listed change in quantity demanded and total revenue follows?

1992

The price mechanism is more effective in achieving efficient performance of the economy than the planning mechanism because of the?

1992

The U-shaped long-run average cost curve is explained by the

1992

When capital becomes more costly relative to labour, and one can be substituted for the other, the cost-minimising production technique becomes more

1992

By definition, variable cost (VC) is related to total costs (TC) and fixed costs (FC) by the equation?

1992

The main reason for the current programme of privatization and commercialization of public enterprises in Nigeria is to?

1992

The main handicap of sole proprietorship is?

1992

An important function of the retailer is to?

1992

For an operating firm that maximizes profit, the marginal revenue equals marginal cost rule applies in

1992

The demand curve for a normal good will shift to the left if?

1992

Firms are often set up close to each other in order to take advantage of?

1992

The primary barrier to land reform in developing countries is the?

1992

Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nigeria has been placed under?

1992

Farmers' income may fall if they produce more cash crops for export because?

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