JAMB UTME - Economics - 1980

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?

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

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

Capital earns income because?

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

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

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?

When we draw a market demand curve, we?

Which is NOT a function of Central Bank in West Africa

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

The fundamental problem of Economics is?

Production in Economics occurs when

Which is the dominant form of tax in Nigeria

In a subsistence economy?

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

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

By balance of visible trade we mean?

The budget of Nigeria will be deficit if

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

The value of money depends primarily on?

A disadvantage of the corporate form of business is the?

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

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

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

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

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

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

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

Commercial banks can create money in the following ways?

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

In Nigeria, cheques are not money because?

Division of labour is limited by the?

By subsistence production we mean?

International trade arise because?

A limited liability company is owned by?

The terms of trade are said to be favorable only if

The marginal physical product of labour is?

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

Price control indicate the following

A commercial bank is able to create money

One of the disadvantages of division of labour is that?

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

Which of the taxes appear generally progressive in nature?

Division of labour means?

Utility of a commodity means?

Commercial banks can create money in the following ways

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

An economic problem arises when?