JAMB UTME - Economics - 1980

In Nigeria, cheques are not money because?

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

The marginal physical product of labour is?

A disadvantage of the corporate form of business is the?

International trade arise because?

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

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

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

The terms of trade are said to be favorable only if

Price control indicate the following

By balance of visible trade we mean?

The budget of Nigeria will be deficit if

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

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

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?

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

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

The fundamental problem of Economics is?

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

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

When we draw a market demand curve, we?

Utility of a commodity means?

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

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

Division of labour is limited by the?

Which of the taxes appear generally progressive in nature?

A limited liability company is owned by?

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

One of the disadvantages of division of labour is that?

Division of labour means?

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

Production in Economics occurs when

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

Capital earns income because?

Which is NOT a function of Central Bank in West Africa

Which is the dominant form of tax in Nigeria

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

An economic problem arises when?

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

By subsistence production we mean?

In a subsistence economy?

A commercial bank is able to create money

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

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

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

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

Commercial banks can create money in the following ways

The value of money depends primarily on?

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

Commercial banks can create money in the following ways?