1994 JAMB UTME Economics Past Questions

1994

The necessity of choice is due to the fact that?

1994

The circular flow of income defines the?

1994

Opportunity cost is an economic concept which describes the?

1994

The basic economic problems of the society include?

1994

Unemployment can be reduced by?

1994

If the actual population in a country is less than the optimum population, then?

1994

The population of country X in 1990 was 35 million.The births were 450,000 while it recorded 210,000 death. If in the year, its immigrants were 20,000 and 10,000 of its citizen left the country, calculate the total popul…

1994

Every economy requires an accurate census because it assist in?

1994

In a mixed economy, decisions to produce are taken by?

1994

A firm determines its profit when it studies its?

1994

The basic relationship between the cost of production, and the market price of any commodity in the short run is that the market price?

1994

A company's expenditure on raw materials is regarded as?

1994

In the long run, all production factors are?

1994

When the Total Product (TP) is at maximum point, the Marginal Product (MP) and the Average Product (AP) respectively are?

1994

In the long run, a firm in a perfectly competitive market will make?

1994

The basic idea behind brand differentiation under an imperfect market arrangement is to?

1994

Elasticity demand is an effective tool in the hands of a producer in that it enables him?

1994

A demand which is positively related to price is true of

1994

An increase in the supply of labour in a factory while other things remain equal will lead to?

1994

The system of agriculture practice which involves hunting, gathering and growing of food crops for family consumption only is described as?

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