JAMB UTME - Economics - 1980

A limited liability company is owned by?

Antwortdetails

Capital earns income because?

Antwortdetails

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

Antwortdetails

When we draw a market demand curve, we?

Antwortdetails

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

Antwortdetails

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

Antwortdetails

In a subsistence economy?

Antwortdetails

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

Antwortdetails

Which is NOT a function of Central Bank in West Africa

Antwortdetails

Utility of a commodity means?

Antwortdetails

By subsistence production we mean?

Antwortdetails

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

Antwortdetails

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

Antwortdetails

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

Antwortdetails

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

Antwortdetails

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

Antwortdetails

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?

Antwortdetails

An economic problem arises when?

Antwortdetails

The value of money depends primarily on?

Antwortdetails

Division of labour means?

Antwortdetails

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

Antwortdetails

Which of the taxes appear generally progressive in nature?

Antwortdetails

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

Antwortdetails

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

Antwortdetails

International trade arise because?

Antwortdetails

The terms of trade are said to be favorable only if

Antwortdetails

The fundamental problem of Economics is?

Antwortdetails

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

Antwortdetails

Commercial banks can create money in the following ways?

Antwortdetails

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

Antwortdetails

By balance of visible trade we mean?

Antwortdetails

A disadvantage of the corporate form of business is the?

Antwortdetails

One of the disadvantages of division of labour is that?

Antwortdetails

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

Antwortdetails

A commercial bank is able to create money

Antwortdetails

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

Antwortdetails

Production in Economics occurs when

Antwortdetails

The budget of Nigeria will be deficit if

Antwortdetails

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

Antwortdetails

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

Antwortdetails

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

Antwortdetails

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

Antwortdetails

Commercial banks can create money in the following ways

Antwortdetails

The marginal physical product of labour is?

Antwortdetails

Which is the dominant form of tax in Nigeria

Antwortdetails

Price control indicate the following

Antwortdetails

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

Antwortdetails

In Nigeria, cheques are not money because?

Antwortdetails

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

Antwortdetails

Division of labour is limited by the?

Antwortdetails