UTME Economics Past Questions (2013)
Prepare effectively for your UTME Economics examination with this comprehensive set of past questions from 2013. This resource provides invaluable practice by exposing you to the types of questions, topics, and difficulty levels you can expect on the actual exam. Dive deep into core economic concepts, from microeconomic principles like demand, supply, and consumer behavior to macroeconomic themes including national income, monetary policy, and fiscal measures.
About This Exam
Prepare effectively for your UTME Economics examination with this comprehensive set of past questions from 2013. This resource provides invaluable practice by exposing you to the types of questions, topics, and difficulty levels you can expect on the actual exam. Dive deep into core economic concepts, from microeconomic principles like demand, supply, and consumer behavior to macroeconomic themes including national income, monetary policy, and fiscal measures.
Topics Covered
Exam Structure
- Question Formatmcq
- Total Questions50
- Estimated Duration17 minutes
- Difficulty LevelMedium
Learning Objectives
- •Understand core microeconomic principles including demand, supply, elasticity, and utility theory.
Prerequisites
A foundational understanding of basic economic principles and mathematical concepts is recommended. Familiarity with statistical methods is also beneficial.
Sample Questions
Get a taste of what to expect in the full exam.
An economy in which both the public and private sectors contribute to economic growth is as
feudal economy
capitalist economy
socialist economy
mixed economy
An increase in the price of a commodity will result in
a decrease in the quantity demanded
an increase in demand
an increase in quantity demanded
a decrease in demand
If CBN reduces money supply, the interest rate will
fluctuate
rise
fall
remain unchanged
From the graph above, R represents
marginal cost
total cost
variable cost
fixed cost
The effect of emigration on a country's population is
decrease in the population
decrease in job opportunities
increase in population
increase in dependency ratio
Life insurance companies contribute to economic development by holding a part of their assets in
long-term financial instruments
money market instruments
cash and near money
short-term financial instruments
The supply of beverages by a firm in a monopolistic market is an example of
derived demand
competitive supply
composite supply
joint demand
If Mr. X lost his clerical job at a store and searched for a similar job for ten months before finding one, this implies that Mr. X was
structurally unemployed
frictionally unemployed
seasonally unemployed
cyclically unemployed
One of the criticisms of the price mechanism is that
producers are sovereign
it provides low degree of freedom
it widens the inequitable gap
consumers are sovereign
One of the goals of development plans in Nigeria is to
increase the profitability of multinational businesses
improve the country's GDP
achieve higher standard of living for the citizens
deregulate the economy
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How to Prepare
Key Preparation Tips
- Thoroughly review all topics covered in the UTME Economics syllabus.
Mistakes to Avoid
- •Misinterpreting graphical representations of economic concepts.
Success Criteria
Achieving a high score (typically above 70%) indicates a strong grasp of the UTME Economics syllabus and readiness for the exam. Consistent practice and understanding of the concepts are key to success.
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