JAMB UTME - Economics - 1980

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

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

Production in Economics occurs when

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

The marginal physical product of labour is?

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

In a subsistence economy?

The fundamental problem of Economics is?

By subsistence production we mean?

Capital earns income because?

Utility of a commodity means?

By balance of visible trade we mean?

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

A commercial bank is able to create money

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

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

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

Which is the dominant form of tax in Nigeria

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

The value of money depends primarily on?

Division of labour is limited by the?

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

A disadvantage of the corporate form of business is the?

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

One of the disadvantages of division of labour is that?

Commercial banks can create money in the following ways?

A limited liability company is owned by?

The budget of Nigeria will be deficit if

Commercial banks can create money in the following ways

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

Division of labour means?

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

Which of the taxes appear generally progressive in nature?

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

The terms of trade are said to be favorable only if

Price control indicate the following

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

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 is NOT a cause of high population growth in Nigeria?

Which is NOT a function of Central Bank in West Africa

When we draw a market demand curve, we?

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?

An economic problem arises when?

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

International trade arise because?

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

In Nigeria, cheques are not money because?