JAMB UTME - Economics - 1980

Which is the dominant form of tax in Nigeria

Price control indicate the following

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

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

When we draw a market demand curve, we?

Which of the taxes appear generally progressive in nature?

The marginal physical product of labour is?

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

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

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

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

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

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

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

Division of labour is limited by the?

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

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

The value of money depends primarily on?

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

International trade arise because?

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

An economic problem arises when?

One of the disadvantages of division of labour is that?

A disadvantage of the corporate form of business is the?

By subsistence production we mean?

Which is NOT a function of Central Bank in West Africa

Commercial banks can create money in the following ways?

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?

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

The budget of Nigeria will be deficit if

Production in Economics occurs when

By balance of visible trade we mean?

A limited liability company is owned by?

Division of labour means?

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

The terms of trade are said to be favorable only if

In a subsistence economy?

Commercial banks can create money in the following ways

A commercial bank is able to create money

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

Capital earns income because?

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

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

Utility of a commodity means?

In Nigeria, cheques are not money because?

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

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

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

The fundamental problem of Economics is?

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