Economics 2016 (Jamb)

1. If additional unit of a variable factor input causes a fall in the marginal product, this implies that


2. The major characteristic of an underdeveloped nation is


3. What effect would a change in price of a commodity have on its supply


4. One of the factors limiting the effectiveness of division of labour in the production process is the


5. Development plans fail in Nigeria mainly because of


6. The overall demand for crude oil for various uses is an example of



From the graph above, P2 in price control situation is referred to as
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8. One of the problems facing the Nigerian oil and gas industry is


9. The demand curve faced by Monopolist is


10. The additional cost incurred by producing an additional unit of output is known as


11. One of the major uses of national income statistics in Nigeria is to


12. A country that is over-populated will face the problem of


13. Which of the following is NOT among the financial institutions in Nigeria


14. One of the factors that determine the supply of agricultural produce in Nigeria is


15. If Mr Wale took a loan for the purpose of investment, the demand for money is



From the graph above, fixing maximum price of garri below equilibrium prices at P1 will
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17. In the theory of consumer behaviour, a consumer is said to maximize utility when


18. Given 0.25, 1.25, 1.80, 1.10, 10.20, 10.15,and 1.55 determine the range


19. One of the important features of perfect competition is


20. The rate of interest charged on loans is determined by the


Question 1 of 20

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