JAMB UTME - Economics - 1980

The terms of trade are said to be favorable only if

An economic problem arises when?

Commercial banks can create money in the following ways

The marginal physical product of labour is?

The budget of Nigeria will be deficit if

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

Production in Economics occurs when

In Nigeria, cheques are not money because?

In a subsistence economy?

Capital earns income because?

Utility of a commodity means?

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

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

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

By subsistence production we mean?

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

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

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

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

The fundamental problem of Economics is?

Which of the taxes appear generally progressive in nature?

International trade arise because?

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

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

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

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?

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

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

By balance of visible trade we mean?

Division of labour means?

A disadvantage of the corporate form of business is the?

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

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

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

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

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

Division of labour is limited by the?

When we draw a market demand curve, we?

Price control indicate the following

Commercial banks can create money in the following ways?

Which is the dominant form of tax in Nigeria

Which is NOT a function of Central Bank in West Africa

The value of money depends primarily on?

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

A limited liability company is owned by?

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

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