IJMB Economics 101 Past Questions 2008; This IJMB Economics 101 past question is suitable for students about to sit for the upcoming IJMB EXAMINATION. Students should be informed that IJMB is an advanced-level program that helps students secure admission into the university of their choice without JAMB.
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IJMB Economics 101 Past Questions 2008
INTERIM JOINT MATRICULATION BOARD EXAMINATION
SUBJECT: ECONOMICS PAPER I
DATE SCHEDULED: TUESDAY 3rd JUNE 2008
TIME ALLOWED: THREE HOURS( 3 HRS)
INSTRUCTIONS: Answer FIVE (5) questions only.
- Distinguish between the following concepts;
a) A firm and an industry.
b) vertical and horizontal of firms.
- Examine the main features of monopolistic competition.
- Discuss the importance and limitations of the price system in a mixed economy.
- a) What are the main determinants of elasticity of supply?
b) If the price of bread increase from #80 to #100 and the quantity offered for sale increase from 400 to 500 units, calculate the coefficient of elasticity of supply.
- Outline the main features of the permanent income hypothesis. The state is an implication for fiscal policy.
- Define savings and explain its major determinants.
- Explain consumer equilibrium using the indifference curve techniques. Show the effect of an increase in income on consumer equilibrium.
- The quantity of fertilizer (in bags) used by six farmers in one year is given 3,5,12,8,7 and 10. Calculate the following;
a) The range b) Mean Deviation c) Variance d) Standard deviation
- Examine the acceleration principle of investment. What are its limitations?
- What is a public corporation? Discuss its merits and demerits.
