2001 JAMB UTME Economics Past Questions

2001

At the consumer equilibrium, the slope of the indifference curve is?

2001

In a free market economy, the price system allocates resources?

2001

If the price elasticity of demand for a good is 0.43, an increase in the price of the good will result in?

2001

When a generalization is made based on observed facts, it is known as?

2001

A change in supply is best described as a?

2001

Economics is regarded as a social science because it?

2001

A normal good with close substitutes is likely to have its price elasticity of demand?

2001

For a supply curve, an increase in the price of a commodity will result in?

2001

The fixing of the price of an item above or below the equilibrium price is most likely to take place in a?

2001

If the arithmetic mean of 1,2,3,4,5,6,x, 16 and 18 is 8.0, find the value of x?

2001

In a demand curve, the relationship between price and quantity is?

2001

A vertical supply curve indicates that?

2001

A major problem facing all economies is how to?

2001

The long run is a period during which a firm?

2001

In the long-run, a monopolist maximized his profit when the marginal cost equals?

2001

Internal economies of scale are expected to bring about?

2001

A firm's shut-down point is reach when the average revenue fails to cover the?

2001

A consumer's scale of preference is an arrangement of his?

2001

A major advantage of specialization and division of labour is that?

2001

A production function relates?

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