JAMB UTME - Economics - 1980

Utility of a commodity means?

In a subsistence economy?

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

Division of labour is limited by the?

An economic problem arises when?

Production in Economics occurs when

Capital earns income because?

In Nigeria, cheques are not money because?

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 is NOT a function of Central Bank in West Africa

By balance of visible trade we mean?

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

Commercial banks can create money in the following ways

Commercial banks can create money in the following ways?

A disadvantage of the corporate form of business is the?

The fundamental problem of Economics is?

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

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

A limited liability company is owned by?

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

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

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

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

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

International trade arise because?

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

The terms of trade are said to be favorable only if

When we draw a market demand curve, we?

Which is the dominant form of tax in Nigeria

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

One of the disadvantages of division of labour is that?

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

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

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

The marginal physical product of labour is?

Price control indicate the following

Which of the taxes appear generally progressive in nature?

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

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

The value of money depends primarily on?

Division of labour means?

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

A commercial bank is able to create money

By subsistence production we mean?

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

The budget of Nigeria will be deficit if

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

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