UTME Economics Past Questions (2010)
This set of UTME Economics past questions from 2010 provides an invaluable resource for students preparing for their university entrance examinations. It covers a comprehensive array of economic topics, from fundamental principles of microeconomics and macroeconomics to more specialized areas like statistics, market structures, and international trade. By working through these questions, candidates can gauge their current knowledge level and identify areas that require further study.
About This Exam
This set of UTME Economics past questions from 2010 provides an invaluable resource for students preparing for their university entrance examinations. It covers a comprehensive array of economic topics, from fundamental principles of microeconomics and macroeconomics to more specialized areas like statistics, market structures, and international trade. By working through these questions, candidates can gauge their current knowledge level and identify areas that require further study.
Topics Covered
Exam Structure
- Question Formatmcq
- Total Questions51
- Estimated Duration17 minutes
- Difficulty LevelMedium
Learning Objectives
- •Understand fundamental economic principles and concepts.
Prerequisites
A foundational understanding of basic economic concepts and principles, as typically covered in secondary school curricula. Familiarity with mathematical and statistical concepts is also beneficial.
Sample Questions
Get a taste of what to expect in the full exam.
In developing countries, governments influence the location of industries in order to
spread development
redistribute wealth
encourage entrepreneurs
encourage industries to earn high profits
The law of diminishing marginal explains why
the slope of a normal demand is negative
an abnormal demand curve slc upwards
the slope of a normal demand is positive
the consumption of inferior go increases with income
In national income accounting, t determined by the
level of investment
rate of savings
The choice of the method of produ in an economy is determined by th
level of technical know-how
rate of population growth
availability of natural resource
level of income
The maximum number of shareholders for a limited liability company's is
twenty
five
seven
infinite
If MPC is 0.7 while government expenditure increased by # 150m, the equilibrium national income is
#214 million
#45 million
#105 million
#500 million
The velocity of money is represented as
Money supply
Real GDP
Real GDP
Money supply
Nominal GDP
Money supply
Real GDP
Nominal GDP
Government can boost agricultui output in Nigeria primarily by
embarking on buffer stock programmes
placing embargo on food impo
granting subsidies on farm inp
placing farmers on monthly inc
An industry's supply curve is mo to be elastic when firms are
enjoying free entry and exit
operating at full capacity
operating below capacity
maximizing profits
An agreement among firms on p segmentation is termed
cartel
collusion
haggling
specialization
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How to Prepare
Key Preparation Tips
- Thoroughly review all core Economics syllabus topics.
Mistakes to Avoid
- •Misinterpreting demand and supply shifts.
Success Criteria
Achieving a high score (typically above 70%) indicates a strong grasp of the Economics syllabus and readiness for the UTME. Consistent practice and understanding the rationale behind each answer are key to success.
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