JAMB UTME - Economics - 1980

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

Price control indicate the following

A commercial bank is able to create money

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

When we draw a market demand curve, we?

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

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

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

The marginal physical product of labour is?

In a subsistence economy?

An economic problem arises when?

Commercial banks can create money in the following ways?

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

Which of the taxes appear generally progressive in nature?

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

A disadvantage of the corporate form of business is the?

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

Division of labour is limited by the?

By subsistence production we mean?

By balance of visible trade we mean?

International trade arise because?

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?

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 following is NOT a determinant of changes in supply?

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

Commercial banks can create money in the following ways

Which is the dominant form of tax in Nigeria

Division of labour means?

Production in Economics occurs when

A limited liability company is owned by?

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

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

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

Capital earns income because?

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

The budget of Nigeria will be deficit if

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

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

The fundamental problem of Economics is?

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

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

In Nigeria, cheques are not money because?

Which is NOT a function of Central Bank in West Africa

The terms of trade are said to be favorable only 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?

Utility of a commodity means?

One of the disadvantages of division of labour is that?

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