JAMB UTME - Economics - 1980

Commercial banks can create money in the following ways

Commercial banks can create money in the following ways?

Division of labour means?

International trade arise because?

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

In a subsistence economy?

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

Which is NOT a function of Central Bank in West Africa

The budget of Nigeria will be deficit if

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

Capital earns income because?

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

Division of labour is limited by the?

In Nigeria, cheques are not money because?

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

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

The terms of trade are said to be favorable only if

A commercial bank is able to create money

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

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

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 function of Nigeria commercial Banks?

Price control indicate the following

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

An economic problem arises when?

One of the disadvantages of division of labour is that?

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

Which is the dominant form of tax in Nigeria

When we draw a market demand curve, we?

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

A disadvantage of the corporate form of business is the?

Which of the taxes appear generally progressive in nature?

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

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

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

The marginal physical product of labour is?

A limited liability company is owned by?

Utility of a commodity means?

By subsistence production we mean?

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

By balance of visible trade we mean?

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

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

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

Production in Economics occurs when

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

The fundamental problem of Economics is?

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