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Economics 1983 JAMB Past Questions

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41
When demand is elastic, it means that consumers
  • A. react more proportionately to price change
  • B. are not sensitive to price changed
  • C. will stop buying when price increases
  • D. react less proportionately to price change
  • E. react equally to price change
View Answer & Discuss (3) JAMB 1983
42
Full employment is a situation in which?
  • A. every adult is employed
  • B. all adults who can work are employed
  • C. all person who attained the age of 15 and above are employed
  • D. only the disabled are not employed
  • E. all those who are able and eligible can find employment
View Answer & Discuss JAMB 1983
43
Demand for a factor of production is?
  • A. a composite demand
  • B. a joint demand
  • C. a derived demand
  • D. an elastic demand
  • E. cross-elasticity of demand
View Answer & Discuss (1) JAMB 1983
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44
Differentiated product is the characteristic feature of?
  • A. perfect competition
  • B. pure competition
  • C. monopolistic competition
  • D. monopoly
  • E. oligopoly
View Answer & Discuss JAMB 1983
45
Nigeria is currently implementing the?
  • A. third development plan
  • B. second development plan
  • C. fourth development plan
  • D. fifth development plan
View Answer & Discuss (1) JAMB 1983
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