UTME 2019 Economics | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The effect of changes in the condition of demand on a demand schedule, with the price constant, is
A. a movement along the demand curve
B. a shift of the demand curve
C. a shift of the supply curve
D. deflation of the demand curve
Question 2
One main quality of a good is that it is
A. non-perishable
B. sold in the market
C. satisfies wants
D. made in the factory
Question 3
The choice of what to produce in a command economy is determined by
A. central government
B. the government and labour unions
C. labour unions
D. industrial establishments
Question 4
Which of the following is not an indirect tax?
A. Sales tax
B. Export duty
C. Excise duty
D. Company tax
Question 5
Developments outside a given firm which reduce the firm costs are called
A. optimum effects
B. external diseconomies
C. external economies
D. internal economies
Question 6
Mobility of labour is NOT affected by
A. regulation of trade unions
B. period of training
C. marriage and family
D. optimum size of population
Question 7
The equilibrium wage in an economy is determined by the
A. supply and demand for labour
B. rate of inflation
C. workers' union
D. public service
Question 8
What is the marginal productivity, when the number of workers is increased from 2 to 3?
A. 20 kg
B. 31 kg
C. 60 kg
D. 180 kg
Question 9
A good is said to be inferior if its demand
A. rises as income rises
B. is perfectly inelastic
C. falls as income rises
D. rises as price falls
Question 10
Utility of a commodity means
A. its usefulness
B. its adaptability
C. satisfaction derived from the production of commodity
D. price of the commodity
Question 11
One of the advantages of large-scale production is that
A. consumers sacrifice their individual tastes
B. there is a rise in the cost of administration
C. the demand for a firm's products becomes localized
D. decision making takes a long time because different levels of management are involved
Question 12
A characteristic of the average fixed cost is that it
A. rises and falls faster than the marginal cost
B. U-shaped and intersects the average variable cost
C. falls continuously but is never equal to zero
D. is always higher than the average variable cost
Question 13
A market where there are many differentiated products is called
A. monopolistic competition
B. monopoly
C. oligopoly
D. perfect competition
Question 14
Efficiency of labour is enhanced by
A. improved working condition and training
B. war against indiscipline
C. mechanization processes
D. investment in own family affairs
Question 15
The labour force in Nigeria falls between the ages of
A. 18 and 30
B. 18 and 60
C. 18 and 45
D. 18 and 55

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: