JAMB UTME - Economics - 1980

When we draw a market demand curve, we?

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?

An economic problem arises when?

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

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

Price control indicate the following

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

The budget of Nigeria will be deficit if

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

In Nigeria, cheques are not money because?

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

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

Which of the taxes appear generally progressive in nature?

The value of money depends primarily on?

A commercial bank is able to create money

The fundamental problem of Economics is?

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

In a subsistence economy?

Commercial banks can create money in the following ways

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

International trade arise because?

The terms of trade are said to be favorable only if

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

Commercial banks can create money in the following ways?

By balance of visible trade we mean?

The marginal physical product of labour is?

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

Which is NOT a function of Central Bank in West Africa

Production in Economics occurs when

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

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

Capital earns income because?

A limited liability company is owned by?

By subsistence production we mean?

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?

Which is the dominant form of tax 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?

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

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

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

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

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?

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

A disadvantage of the corporate form of business is the?