JAMB UTME - Economics - 1980

One of the disadvantages of division of labour is that?

Mr.A earns N300 and pays N15 in tax. Mr. B earns N100 and pays N6 in tax. This tax system can be described as?

An economic problem arises when?

In the above diagram supply and demand conditions of sugar in a Nigerian market are given. An indirect tax of 10 kobo per kg is imposed it will be paid

Production in Economics occurs when

Which of the taxes appear generally progressive in nature?

The fundamental problem of Economics is?

Which of the following is a correct definition of equilibrium price?

The terms of trade are said to be favorable only if

A commercial bank is able to create money

Which of the following is NOT a function of Nigeria commercial Banks?

If a firm doubles its output and its cost increase by 60%, the firm is experiencing

In Nigeria, cheques are not money because?

From an economic point of view, an activity does not have a cost when

Which is NOT a cause of high population growth in Nigeria?

A disadvantage of the corporate form of business is the?

Which is the dominant form of tax in Nigeria

By balance of visible trade we mean?

In a normal (typical) demand schedule, the quantity demand is?

Which of the following is the standard concept for measuring and analyzing population growth?

Which of the following is NOT a determinant of changes in supply?

In a limited liability company, the greatest risk is borne by?

Which is NOT a function of Central Bank in West Africa

Nigeria earns the major part of her foreign exchange from the export of?

Which of the following is NOT one of the balance of payment entries?

Commercial banks can create money in the following ways

Which would you NOT consider an agro-based industry in Nigeria?

If the government is interested in raising the highest revenue from a tax system, then for any two commodities

The value of money depends primarily on?

Commercial banks can create money in the following ways?

If you do not have to give anything in order to get a particular thing, then its opportunity cost is?

If the price of a commodity falls and the quantity purchased of it does not rise, the commodity can be described as

In a free market economy, the rationing of scarce goods is done principally by

Which is NOT a method of raising capital funds in Nigeria?

By subsistence production we mean?

Indicate which of the following are invisible trade items in a country’s balance of payments?

A limited liability company is owned by?

The marginal physical product of labour is?

Division of labour means?

Which would you NOT consider an advantage of one-man business?

International trade arise because?

Division of labour is limited by the?

Capital earns income because?

Which sector can you say is growing fastest in the Nigeria economy?

When we draw a market demand curve, we?

The budget of Nigeria will be deficit if

Utility of a commodity means?

In a subsistence economy?

Price control indicate the following

Which of the following is NOT a measure for controlling inflation?