JAMB UTME - Economics - 1980

Which of the taxes appear generally progressive in nature?

Capital earns income because?

The marginal physical product of labour is?

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

The terms of trade are said to be favorable only if

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

The fundamental problem of Economics 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?

The value of money depends primarily on?

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

A commercial bank is able to create money

Price control indicate the following

Commercial banks can create money in the following ways

Utility of a commodity means?

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

The budget of Nigeria will be deficit if

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

Production in Economics occurs when

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

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

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

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

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

In Nigeria, cheques are not money because?

One of the disadvantages of division of labour is that?

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

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

In a subsistence economy?

Which is NOT a function of Central Bank in West Africa

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

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

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

Commercial banks can create money in the following ways?

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

Which is the dominant form of tax in Nigeria

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

When we draw a market demand curve, we?

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

International trade arise because?

An economic problem arises when?

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

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

By balance of visible trade we mean?

Division of labour is limited by the?

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

A disadvantage of the corporate form of business is the?

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

Division of labour means?

A limited liability company is owned by?

By subsistence production we mean?