Economics 1981 JAMB Past Questions

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Market for Garri: At a price of N5, the excess supply is`

A. 30 tins per week
B. 45 tins per week
C. 15 tins per week
D. 20 tins per week
E. indeterminate

View Answer & Discuss (1) JAMB 1981

If P₈ and P₉ represent the population of West African in 1978 and 1979 respectively, and given that in 1979.

D= number of deaths, B= number of births, I= number of immigrants, E= number of Emigrants. Then the size of the population in 1979 is given by

A. P₉ = P₈ + D - B = I - E
B. P₉ = P₈ + B - D + I - E
C. P₉ =P₈ + B - D + E - I
D. P₉ = B - D + I - E
E. P₉ = P₈ + B + D + I + E

View Answer & Discuss JAMB 1981

A movement along a given demand curve for a good is caused by a change in

A. A consumer income
B. The price of the good
C. Taste
D. The prices of other goods
E. Population

View Answer & Discuss (1) JAMB 1981

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External economies are

A. The advantage accuring to a firm as a result of its expansion
B. The advantages accuring to one firm as a result of the existence of other firms in the same locality
C. Benefits derived by a firm as a result of its own individual policy
D. Reaped only by agricultural firms
E. Bound to increase the costs of production whatever the circumstances

View Answer & Discuss JAMB 1981

Scarcity in economics generally refers to

A. A period of feminine
B. Monopolization of existing supply of resources
C. Nationalization of sources of raw materials in Nigeria
D. The control of outlets to sell goods
E. None of the above

View Answer & Discuss (1) JAMB 1981

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