JAMB UTME - Economics - 1980

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

Production in Economics occurs when

Which is NOT a function of Central Bank in West Africa

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

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

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

Division of labour means?

Capital earns income 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?

Commercial banks can create money in the following ways

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

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

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

A commercial bank is able to create money

In Nigeria, cheques are not money because?

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

The marginal physical product of labour is?

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

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

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

A limited liability company is owned by?

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

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

A disadvantage of the corporate form of business is the?

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

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

When we draw a market demand curve, we?

Division of labour is limited by the?

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

Which of the taxes appear generally progressive in nature?

Which is the dominant form of tax in Nigeria

In a subsistence economy?

The fundamental problem of Economics is?

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

One of the disadvantages of division of labour is that?

By balance of visible trade we mean?

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

The budget of Nigeria will be deficit if

Utility of a commodity means?

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

The value of money depends primarily on?

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

International trade arise because?

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

Commercial banks can create money in the following ways?

By subsistence production we mean?

Price control indicate the following

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

An economic problem arises when?

The terms of trade are said to be favorable only if