JAMB UTME - Economics - 1980

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

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

Capital earns income because?

A disadvantage of the corporate form of business is the?

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

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

One of the disadvantages of division of labour is that?

The marginal physical product of labour is?

In Nigeria, cheques are not money because?

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

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

Which is the dominant form of tax in Nigeria

International trade arise because?

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

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

The value of money depends primarily on?

A limited liability company is owned by?

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

Division of labour means?

Division of labour is limited by the?

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

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

Price control indicate the following

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

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

Which of the taxes appear generally progressive in nature?

By subsistence production we mean?

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

An economic problem arises when?

The budget of Nigeria will be deficit if

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?

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

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

Which is NOT a function of Central Bank in West Africa

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

When we draw a market demand curve, we?

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

Utility of a commodity means?

By balance of visible trade we mean?

The terms of trade are said to be favorable only if

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

A commercial bank is able to create money

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

The fundamental problem of Economics is?

In a subsistence economy?

Commercial banks can create money in the following ways?

Commercial banks can create money in the following ways