JAMB UTME - Economics - 1980

Production in Economics occurs when

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

In Nigeria, cheques are not money because?

A limited liability company is owned by?

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

Which is the dominant form of tax in Nigeria

An economic problem arises when?

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

By subsistence production we mean?

One of the disadvantages of division of labour is that?

International trade arise because?

The fundamental problem of Economics is?

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

By balance of visible trade we mean?

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

Commercial banks can create money in the following ways

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

A commercial bank is able to create money

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

The value of money depends primarily on?

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

Division of labour is limited by the?

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 marginal physical product of labour is?

A disadvantage of the corporate form of business is the?

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

Capital earns income because?

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

Division of labour means?

In a subsistence economy?

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

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

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

Which of the taxes appear generally progressive in nature?

The terms of trade are said to be favorable only if

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

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?

The budget of Nigeria will be deficit if

Utility of a commodity means?

Which is NOT a function of Central Bank in West Africa

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

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?

Price control indicate the following

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