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971
A major problem facing all economies is how to?
  • A. increase consumption of imported goods
  • B. improve trade among nations
  • C. transform from a developing to a developed economy
  • D. allocate scarce resources
View Answer & Discuss JAMB 2001
972
A vertical supply curve indicates that?
  • A. the quantity supplied is responsive to price
  • B. the same fixed quantity will be supplied no matter the price
  • C. an increase in price will result in an increase in the quantity supplied
  • D. there is a fixed price for the commodity below which no supply will be made
View Answer & Discuss (1) JAMB 2001
973

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

  • A. indeterminate
  • B. direct
  • C. nil
  • D. inverse
View Answer & Discuss (10) JAMB 2001
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974

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

  • A. 7.0
  • B. 6.0
  • C. 8.5
  • D. 17.0
View Answer & Discuss (12) JAMB 2001
975

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

  • A. centrally planned economy
  • B. free market economy
  • C. developed economy
  • D. mixed economy
View Answer & Discuss (3) JAMB 2001
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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