JAMB UTME - Economics - 1980

International trade arise because?

Which is the dominant form of tax in Nigeria

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

Which of the taxes appear generally progressive in nature?

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

The terms of trade are said to be favorable only if

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

Commercial banks can create money in the following ways

A commercial bank is able to create money

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 limited liability company, the greatest risk is borne by?

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

When we draw a market demand curve, we?

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

The budget of Nigeria will be deficit if

Utility of a commodity means?

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

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

Division of labour means?

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

A limited liability company is owned by?

Production in Economics occurs when

Commercial banks can create money in the following ways?

A disadvantage of the corporate form of business is the?

In Nigeria, cheques are not money because?

In a subsistence economy?

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

By subsistence production we mean?

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

The fundamental problem of Economics is?

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

Capital earns income because?

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

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

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

By balance of visible trade we mean?

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

Division of labour is limited by the?

The marginal physical product of labour is?

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

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

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

An economic problem arises when?

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

Price control indicate the following

Which is NOT a function of Central Bank in West Africa

One of the disadvantages of division of labour is that?

The value of money depends primarily on?

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

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