JAMB UTME - Economics - 1980

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

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

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

Which is NOT a function of Central Bank in West Africa

In Nigeria, cheques are not money because?

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

Which is the dominant form of tax in Nigeria

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

A commercial bank is able to create money

Commercial banks can create money in the following ways?

Which of the taxes appear generally progressive in nature?

The value of money depends primarily on?

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?

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?

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

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

The budget of Nigeria will be deficit if

Price control indicate the following

In a subsistence economy?

Capital earns income because?

A disadvantage of the corporate form of business is the?

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

The terms of trade are said to be favorable only if

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

A limited liability company is owned by?

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

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

Division of labour means?

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

The marginal physical product of labour is?

Commercial banks can create money in the following ways

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

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

By balance of visible trade we mean?

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

International trade arise because?

Utility of a commodity means?

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

By subsistence production we mean?

Division of labour is limited by the?

Production in Economics occurs when

One of the disadvantages of division of labour is that?

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

An economic problem arises when?

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

When we draw a market demand curve, we?

The fundamental problem of Economics is?

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

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