JAMB UTME - Economics - 1980

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

Antwoorddetails

The value of money depends primarily on?

Antwoorddetails

In Nigeria, cheques are not money because?

Antwoorddetails

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

Antwoorddetails

The marginal physical product of labour is?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

International trade arise because?

Antwoorddetails

An economic problem arises when?

Antwoorddetails

Production in Economics occurs when

Antwoorddetails

One of the disadvantages of division of labour is that?

Antwoorddetails

By subsistence production we mean?

Antwoorddetails

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

Antwoorddetails

A limited liability company is owned by?

Antwoorddetails

A disadvantage of the corporate form of business is the?

Antwoorddetails

Utility of a commodity means?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

In a subsistence economy?

Antwoorddetails

Capital earns income because?

Antwoorddetails

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

Antwoorddetails

Which is the dominant form of tax in Nigeria

Antwoorddetails

Which is NOT a function of Central Bank in West Africa

Antwoorddetails

Commercial banks can create money in the following ways?

Antwoorddetails

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

Antwoorddetails

Division of labour means?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

The budget of Nigeria will be deficit if

Antwoorddetails

The fundamental problem of Economics is?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

A commercial bank is able to create money

Antwoorddetails

Which of the taxes appear generally progressive in nature?

Antwoorddetails

The terms of trade are said to be favorable only if

Antwoorddetails

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

Antwoorddetails

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?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

Division of labour is limited by the?

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

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

Antwoorddetails

When we draw a market demand curve, we?

Antwoorddetails

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

Antwoorddetails

Price control indicate the following

Antwoorddetails

By balance of visible trade we mean?

Antwoorddetails

Commercial banks can create money in the following ways

Antwoorddetails