UTME 2016 Economics Past Questions and Answers
Prepare effectively for the JAMB UTME Economics examination with this comprehensive set of past questions from 2016. This resource provides a realistic simulation of the exam environment, allowing you to test your knowledge across a wide spectrum of economic theories and applications. Each question is accompanied by its correct answer and a detailed explanation, helping you understand the reasoning behind the solutions and reinforcing your learning.
About This Exam
Prepare effectively for the JAMB UTME Economics examination with this comprehensive set of past questions from 2016. This resource provides a realistic simulation of the exam environment, allowing you to test your knowledge across a wide spectrum of economic theories and applications. Each question is accompanied by its correct answer and a detailed explanation, helping you understand the reasoning behind the solutions and reinforcing your learning.
Topics Covered
Exam Structure
- Question Formatmcq
- Total Questions50
- Estimated Duration17 minutes
- Difficulty LevelMedium
Learning Objectives
- •Understand core microeconomic principles including market structures, demand, supply, and elasticity.
Prerequisites
A foundational understanding of basic economic principles and concepts is recommended. Familiarity with mathematical and statistical concepts relevant to economics is also beneficial.
Sample Questions
Get a taste of what to expect in the full exam.
One of the ways of correcting a deficit balance of payments is to
devalue a country's currency
predenominate a country's currency
reduce imports
reduce exports.
One of the major factors militating against industrialization in Nigeria is
low level of foreign investment
frequent break-down of equipment
inadequacy of infrastructural facilities
government participation.
If , what is the quantity supplied at ?
64.5
42.0
2.4
30.0
The money market provides business firms with the avenue to
purchase goods and services
purchase capital equipment's
obtain short-term funds
obtain long-term funds
If the output of a firm experiences economies of scale increases, the average cost would
be at
rise
(missing option)
fall
The problem of economic development in Nigeria is that of
poor weather conditions
overpopulation
surplus skilled manpower
inadequate infrastructure.
The demand curve for a normal good is negatively sloped because
price is an incentive to produce
price is an incentive to consume
demand always exceeds supply
price and quantity move in the same direction.
A problem facing the development of the Nigerian Petroleum industry is
persistent gas flaring
instability in demand for the product
dominance of multinationals
declining oil reserves.
A tax on land will ultimately fall
partly on agents and users
partly on users and owners
entirely on owners
entirely on users.
A country where the available population is unable to guarantee efficient utilization of available resources is experiencing
under population
over-population
high population density
optimum population.
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How to Prepare
Key Preparation Tips
- Review core economic theories and definitions thoroughly.
Mistakes to Avoid
- •Calculation errors in statistical problems.
Success Criteria
Achieving a high score (e.g., 70% or above) on this practice set indicates strong readiness for the UTME Economics exam. Consistent performance across various topics is key.
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