University of Uyo Economics Post Utme Past Questions and Answers

Question 6 :

Division of labour tends to ____________

A. Improved craftsmanship
B. The production of standardized goods
C. Increase in the cost of goods
D. Trade of barter

Question 7 :

Which of the following is an advantage of localization of industry?

A. Development of industrial firm
B. Operation of palatial market
C. Development slums
D. Attraction of foreign capital

Question 8 :

Output Total Revenue (N) Output Total Revenue (N)
1 40
2 49
3 56
4 51
5 65
The marginal revenue when output is 4 units is ____________

A. 5 naira
B. 8 naira
C. 56 naira
D. 61 naira

Question 9 :

The term under population refers to a situation where the population is ____________

A. Dispersed over the country
B. Small in relation to available resources
C. Greater than the available resources
D. Concentrated in a few areas

Question 10 :

Which of the following is necessary for the survival of small firms in West Africa?

A. Access to land for development
B. Inadequate collateral for banks loan
C. Government assistance in the form of loans and tad holidays
D. High transportation cost