JAMB UTME - Economics - 1980

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

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

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

Utility of a commodity means?

Commercial banks can create money in the following ways?

Commercial banks can create money in the following ways

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

Production in Economics occurs when

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

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

International trade arise because?

A commercial bank is able to create money

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

In Nigeria, cheques are not money because?

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

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

In a subsistence economy?

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

Division of labour is limited by the?

Which is the dominant form of tax in Nigeria

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

A disadvantage of the corporate form of business is the?

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

When we draw a market demand curve, we?

An economic problem arises when?

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

The value of money depends primarily on?

Price control indicate the following

Which of the taxes appear generally progressive in nature?

The marginal physical product of labour is?

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

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

By subsistence production we mean?

Which is NOT a function of Central Bank in West Africa

A limited liability company is owned by?

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

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

The fundamental problem of Economics is?

The terms of trade are said to be favorable only if

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

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

By balance of visible trade we mean?

Capital earns income because?

The budget of Nigeria will be deficit if

One of the disadvantages of division of labour is that?

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

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

Division of labour means?