JAMB UTME - Economics - 1980

The budget of Nigeria will be deficit if

Production in Economics occurs when

Commercial banks can create money in the following ways?

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

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

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?

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

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

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

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

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

The terms of trade are said to be favorable only if

By subsistence production we mean?

When we draw a market demand curve, we?

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

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

Commercial banks can create money in the following ways

International trade arise because?

The marginal physical product of labour is?

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?

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

A limited liability company is owned by?

Which is NOT a function of Central Bank in West Africa

In Nigeria, cheques are not money because?

Division of labour means?

In a subsistence economy?

Which of the taxes appear generally progressive in nature?

By balance of visible trade we mean?

The value of money depends primarily on?

The fundamental problem of Economics is?

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

A disadvantage of the corporate form of business is the?

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

Division of labour is limited by the?

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

Utility of a commodity means?

Which is the dominant form of tax in Nigeria

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

An economic problem arises when?

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

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

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

A commercial bank is able to create money

Capital earns income because?

One of the disadvantages of division of labour is that?

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

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

Price control indicate the following

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