1. Occupational distribution of population is mainly influenced by __.
A. economic factors
B. religious factors
C. geographical factors
D. social factors.
2. The reward for capital is __.
A. interest
B. rent
C. risk
D. premium
3. The reduction in the value of a country's currency in relation to the value of the currencies of other nations is known as __.
A. deflation
B. inflation
C. devaluation
D. revaluation
1. If the arithmetic mean of 2, 3, 5, 8, Z, 10 and 12 is 7, what is the value of Z?
A. 8
B. 9
C. 10
D. 7
2. The most important function of agriculture to the Nigerian economy is __.
A. the guarantee of food security
B. technical skill development
C. technological development
D. industrial development
3. Given that Qd=15-2P and Qs=5+3P, determine the equilibrium price.
A. ₦3 00
B. ₦5 00
C. ₦2 00
D. ₦6 00
1. A country embarks on deficit financing in order to __.
A. reduce aggregate demand
B. increase revenue
C. stimulate investment
D. curb inflation
2. The money market provides business firms with the avenue to __.
A. purchase goods and services
B. purchase capital equipment’s
C. obtain short- term funds
D. obtain long-term funds
3. The optimum level of output for pure monopolist occurs where _.
A. P is highest
B. P = AC
C. P = MC
D. MR = MC
1. The major implication of high dependency ratio on an economy is __.
A. high capital formation
B. vicious cycle of poverty
C. low cost of living
D. high standard of living
2. One of the major problems of agricultural sector in Nigeria is ___.
A. low literacy level of farmers
B. small size of farms
C. pest attack on crops
D. inadequate modem farm implements
3. Cooperative societies are characterized with __.
A. divergent interest of members
PAPER TYPE: Type L
1. Which question paper type of Economics is given to you?
A. Type F
B. Type E
C. Type L
D. Type S
2. The choice of how to produce in a command economy is determined by
A. government
B. consumer
C. industrialists
D. labour unions
3. In capitalist economies, questions about what to produce are ultimately answered by
A. income level of households
B. available technical skills in the economy
C. output decisions of firms
PAPER TYPE: TYPE U
1. Which question paper type of Economics
is given to you?
A. Type B
B. Type I
C. Type B
D. Type U
2. An economy in which both the public and private sectors contribute to economic growth is as
A. feudal economy
B. capitalist economy
C. socialist economy
D. mixed economy
3. If the standard deviation of a given data is 53, what is the variance?
A. 2,082
B. 2,809
C. 2,808
D. 2,209
UTME 2012 ECONOMICS QUESTIONS
PAPER TYPE: RED
1. Which question paper type of Economics as indicated above is given to you?
A. Type Green
B. Type Purple
C. Type Red
D. Type Yellow
2. A major disadvantage of a socialist economy is that
A. corruption is rampant
B. consumer's sovereignty is lost
C. income inequality is entrenched
D. there is high level of unemployment
PAPER TYPE: B
1. Which question paper type of economics
is given to you?
A. Type A
B. Type B
C. Type C
D. Type D
2. An effective way of controlling inflation in a mixed economy is to
A. increase productivity
B. reduce income tax
C. ration available output
D. increase imports
3. One of the limitations PPC assumption is that there is
A. no indication of technological development
B. no recognition of preferred goods for countries
PAPER TYPE: C
1. Which Economics question paper type is
given to you?
A. Type A
B. Type B
C. Type C
D. Type D
2. Economics is the study of human behaviour as it relates to the
A. efficient allocation of resources
B. production of goods
C. operation of companies
D. generation of income
3. The downturn in the prices of shares on stock markets is a highlight of
A. efficient allocation of resources
B. the invisible hand