JAMB UTME - Economics - 1980

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

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

One of the disadvantages of division of labour is that?

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

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

In a subsistence economy?

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 advantage of one-man business?

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

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 is NOT a function of Central Bank in West Africa

The marginal physical product of labour is?

The terms of trade are said to be favorable only if

The budget of Nigeria will be deficit if

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

Capital earns income because?

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

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

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?

A disadvantage of the corporate form of business is the?

Division of labour means?

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

Production in Economics occurs when

When we draw a market demand curve, we?

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

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

The fundamental problem of Economics is?

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

Utility of a commodity means?

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

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?

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

Commercial banks can create money in the following ways

In Nigeria, cheques are not money because?

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

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

Division of labour is limited by the?

A commercial bank is able to create money

Which of the taxes appear generally progressive in nature?

Commercial banks can create money in the following ways?

A limited liability company is owned by?

Which is the dominant form of tax in Nigeria

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

An economic problem arises when?

By balance of visible trade we mean?

Price control indicate the following

International trade arise because?

The value of money depends primarily on?

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