JAMB UTME - Economics - 1980

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

An economic problem arises when?

In a subsistence economy?

Division of labour means?

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

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

By balance of visible trade we mean?

Production in Economics occurs when

Price control indicate the following

A limited liability company is owned by?

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

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

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

Commercial banks can create money in the following ways

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

When we draw a market demand curve, we?

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

Division of labour is limited by the?

By subsistence production we mean?

International trade arise 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?

Capital earns income because?

Which is NOT a function of Central Bank in West Africa

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

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

Utility of a commodity means?

One of the disadvantages of division of labour is that?

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

The fundamental problem of Economics is?

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

Commercial banks can create money in the following ways?

The budget of Nigeria will be deficit if

In Nigeria, cheques are not money because?

Which is the dominant form of tax in Nigeria

The value of money depends primarily on?

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

The terms of trade are said to be favorable only if

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

A disadvantage of the corporate form of business is the?

A commercial bank is able to create money

Which of the taxes appear generally progressive in nature?

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

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

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

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 method of raising capital funds in Nigeria?

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

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