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JAMB UTME Economics 2019 past questions and answers

This 2019 JAMB UTME Economics set has 40 practice questions. Try these 5 free sample questions, tap a question to reveal the answer and explanation. Then practise the whole 2019 set with instant marking.

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Sample JAMB UTME Economics 2019 questions

1. A consumer is in equilibrium when the marginal utility obtained from each good, per unit of its price, is
  1. equal for all goods consumed
  2. greater for the most expensive good
  3. zero for every good
  4. proportional to total expenditure

Answer: A. equal for all goods consumed

Consumer equilibrium requires MUx/Px = MUy/Py across goods, subject to the budget constraint.

2. In the short run, a firm is one in which
  1. all factors of production are variable
  2. at least one factor of production is fixed
  3. no factor of production is fixed
  4. output cannot be changed

Answer: B. at least one factor of production is fixed

The short run is defined by at least one input being fixed, even though output may change.

3. A farmer adds successive units of labour to a fixed plot of land while holding other inputs constant. Eventually, the extra output from each added worker falls because of the
  1. law of demand
  2. law of supply
  3. law of diminishing returns
  4. law of increasing costs

Answer: C. law of diminishing returns

With a fixed factor, marginal product eventually declines as additional units of a variable factor are applied.

4. A firm's fixed cost is N1,200. If it produces 120 units, its average fixed cost is
  1. N5
  2. N8
  3. N12
  4. N10

Answer: D. N10

Average fixed cost is total fixed cost divided by output, so N1,200/120 = N10.

5. A trader sells 50 bags of rice at N8,000 per bag. The trader's total revenue is
  1. N400,000
  2. N58,000
  3. N8,000
  4. N4,000,000

Answer: A. N400,000

Total revenue equals price multiplied by quantity, giving N8,000 x 50 = N400,000.

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