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Post-UTME Economics 2006 Objective Past Questions

All 3 questions from the Post-UTME Screening (Post-UTME) Economics 2006 Objective paper, with the correct answer and a full explanation for each. Free, no signup needed.

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Economics 2006 Objective — Question 1

Subsidiary firms are firms

  • A. that render services to bigger onesCorrect
  • B. that are formed by localization
  • C. formed with government subsidy
  • D. formed by merging

Explanation

Subsidiary firms typically provide services/support to a parent (bigger) company.

Economics 2006 Objective — Question 2

The introduction of machines into the work place is likely to cause

  • A. eyelical unemployment
  • B. structural unemploymentCorrect
  • C. frictional unemployment
  • D. seasonal unemployment

Explanation

Automation/mechanization displacing workers is a classic cause of structural unemployment.

Economics 2006 Objective — Question 3

The downward slope of the production possibility curve shows that

  • A. more of both commodities can be produced without reallocation
  • B. the economy is dwindling
  • C. all nations are producing at full capacityCorrect
  • D. (further options not fully captured)

Explanation

A downward-sloping (concave) production possibility curve reflects the opportunity cost trade-off when an economy is producing at its full capacity/efficient frontier.

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