JAMB UTME - Economics - 1980

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

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

Division of labour means?

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

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?

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

Division of labour is limited by the?

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

Commercial banks can create money in the following ways

In a subsistence economy?

The fundamental problem of Economics is?

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

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

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

A limited liability company is owned by?

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?

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

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

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

Utility of a commodity means?

Production in Economics occurs when

Price control indicate the following

A disadvantage of the corporate form of business is the?

The marginal physical product of labour is?

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

By subsistence production we mean?

Capital earns income because?

When we draw a market demand curve, we?

By balance of visible trade we mean?

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

In Nigeria, cheques are not money because?

International trade arise because?

A commercial bank is able to create money

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

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

Which of the taxes appear generally progressive in nature?

The terms of trade are said to be favorable only if

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

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

The budget of Nigeria will be deficit if

Commercial banks can create money in the following ways?

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

Which is NOT a function of Central Bank in West Africa

Which is the dominant form of tax in Nigeria

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

One of the disadvantages of division of labour is that?

An economic problem arises when?

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

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