JAMB UTME - Economics - 1980

The value of money depends primarily on?

By balance of visible trade we mean?

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

The marginal physical product of labour is?

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

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

By subsistence production we mean?

The fundamental problem of Economics is?

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

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

The budget of Nigeria will be deficit if

Division of labour means?

Price control indicate the following

International trade arise because?

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

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

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

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

Which of the taxes appear generally progressive in nature?

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?

A commercial bank is able to create money

Commercial banks can create money in the following ways?

The terms of trade are said to be favorable only if

Which is the dominant form of tax in Nigeria

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

In Nigeria, cheques are not money because?

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

A disadvantage of the corporate form of business is the?

When we draw a market demand curve, we?

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

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

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

Production in Economics occurs when

In a subsistence economy?

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

Utility of a commodity means?

Which is NOT a function of Central Bank in West Africa

An economic problem arises when?

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

Division of labour is limited by the?

Capital earns income because?

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

One of the disadvantages of division of labour is that?

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

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

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

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

A limited liability company is owned by?

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