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ECONOMICS POST UTME

(APP) ECONOMICS POST UTME 1

(APP) ECONOMICS POST UTME

ECONOMICS POST UTME

Practice with our Post UTME CBT for Universities, Polytechnics, College of Agriculture, College of
Medicine, College of Technology and College of Education and pass your examination.

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Category: ECONOMICS POST UTME

It is impossible to satisfy all human wants because:

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Basic extractive activities are classified as:

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In event of shortage in supply of a commodity in the market under a planned economy, the allocation of the available commodity will be carried out by:

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Which of the following countries does not practice capitalism?

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Category: ECONOMICS POST UTME

An increase in the demand for pen raises the demand for ink. This type of demand is called:

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Category: ECONOMICS POST UTME

Another term for opportunity cost is:

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Category: ECONOMICS POST UTME

Irrespective of economic system adopted, which of the following is not an economic problem?

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Category: ECONOMICS POST UTME

The responsiveness of demand to a change in income is termed:

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Category: ECONOMICS POST UTME

A socialist economy is characterized by the:

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Category: ECONOMICS POST UTME

The meaning of scale of preference is:

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Mr. Tola needs a book and a calculator that cost N70 each. If he buys the book instead of the calculator, the opportunity cost of his choice is:

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Category: ECONOMICS POST UTME

A good example of a free good is:

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Category: ECONOMICS POST UTME

The concept of economic efficiency basically implies:

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Category: ECONOMICS POST UTME

In economic analysis, a statement is said to be normative when it:

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Category: ECONOMICS POST UTME

Which of the following is not a classification of economic activities?

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Category: ECONOMICS POST UTME

The Nigerian economy can best be described as a:

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Category: ECONOMICS POST UTME

Advance stage of socialism is referred to as:

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Category: ECONOMICS POST UTME

Use the information below to answer question below

The raw data scores of 10 students of St. Okoro College who took part in Nov/Dec. 2005 G.C.E in Economics are given below. The pass mark is 40%.

 

34       45       25       49       15

59       64       34       40       71

 

What is the mean score of the students’ marks?

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Category: ECONOMICS POST UTME

What is the first thing to do if Biola simultaneously needs computer, a laser printer and a scanner and he has money to buy only one of these items?

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Category: ECONOMICS POST UTME

A consumer’s decision to purchase more of a product, with constant income will imply that:

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Category: ECONOMICS POST UTME

The profit of a monopolist can be eliminated where price equals

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Category: ECONOMICS POST UTME

Which of the following defines Economics most comprehensively?

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Category: ECONOMICS POST UTME

Demand in Economics is synonymous with:

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Category: ECONOMICS POST UTME

The following are the arguments for capitalism EXCEPT:

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Category: ECONOMICS POST UTME

Use the information below to answer question below

The raw data scores of 10 students of St. Okoro College who took part in Nov/Dec. 2005 G.C.E in Economics are given below. The pass mark is 40%.

 

34       45       25       49       15

59       64       34       40       71

 

The quantities of apple supplied by a farmer in a week are shown below: 9, 14, 4, 15, 18

The mean deviation of this data is:

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Category: ECONOMICS POST UTME

The term Laissez-faire is associated with:

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The graph of the function C = a + bY is:

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The decision on what to produce is a problem in:

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The knowledge of Economics enables an individual to:

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Category: ECONOMICS POST UTME

The sum of all the marginal utilities a consumer derives from the consumption of extra units of a commodity is known as:

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Category: ECONOMICS POST UTME

“Economics is a science which studies human behaviour as relationship between ends and scarce means, which have alternative uses”. ‘Ends’ here refers to:

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The demand for a commodity not directly for immediate consumption but for the production of another commodity is:

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Category: ECONOMICS POST UTME

Which of the following is not strictly included in the study of economics?

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Category: ECONOMICS POST UTME

The study of the economic behaviour of individual decision making unit in a free enterprise economy is called:

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Category: ECONOMICS POST UTME

MUA = PA where A = good, A:P = price of good A; MU = Marginal Utility The above equation represents:

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In Ekiti State, the demand curve for rice in every household is downward sloping because:

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The economic system in which resources are privately owned is known as:

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Category: ECONOMICS POST UTME

In market economy, the economy questions of what, how and for whom to produce are solved by:

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Category: ECONOMICS POST UTME

If you do not have to make any sacrifice in order to get a particular thing then its real cost is:

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Category: ECONOMICS POST UTME

If y represents tons of cocoa that a farmer produce, find the range of cocoa in tons that satisfies the following inequality 250 < 2y – 400:

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Category: ECONOMICS POST UTME

The ordinalist approach to the theory of consumer behaviour is based on the following assumption except that:

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Which of the following statements is not correct about choice?

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Category: ECONOMICS POST UTME

A rational consumer will adjust his spending pattern so that:

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Category: ECONOMICS POST UTME

What determines how the factors of production are to be allocated among different production activities in a planned economy?

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Category: ECONOMICS POST UTME

Which of the following would not be included in the fundamental principle of a free enterprise economy?

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Category: ECONOMICS POST UTME

With regard to the benefit of socialism, which of the alternatives is not correct?

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Category: ECONOMICS POST UTME

For a free commodity, a rational consumer will continuously increase his consumption until:

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Category: ECONOMICS POST UTME

In a market economy, the main function of price to:

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Category: ECONOMICS POST UTME

One of the fundamental differences between capitalist and a socialist state is that while:

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Category: ECONOMICS POST UTME

Which of the following is not a good method of data presentation and interpretation?

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