Economics Past Questions For JAMB, WAEC, NECO & Post UTME, With Answers, And Explanations - Economics

Economics Questions

Question 646:

JAMB 1983

If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will added less to the output than previous units of the labour. This concept is known as?

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A The productivity of labour
B The law of diminishing marginal utility
C The law diminishing returns
D The concept of factor intensity
E Labour intensive production

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Question 647:

JAMB 1983

A Nigerian household's demand curve for semovita is downward because?

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A The demand for semovita is high
B The loal markets are flooded with semovita
C It is produced in Nigeria
D Every household can afford to buy semovita
E Higher prices attract lower quantities while lower prices attract larger quantities

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Question 648:

JAMB 1983

Marginal cost curve intersects average cost curve ?

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