JAMB UTME - Economics - 1980

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

By subsistence production we mean?

The marginal physical product of labour is?

Which is the dominant form of tax in Nigeria

The value of money depends primarily on?

Division of labour means?

Utility of a commodity means?

The budget of Nigeria will be deficit if

The terms of trade are said to be favorable only if

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?

In a subsistence economy?

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

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

A commercial bank is able to create money

Which is NOT a function of Central Bank in West Africa

Which would you NOT consider an agro-based industry 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?

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

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

Which of the taxes appear generally progressive in nature?

In Nigeria, cheques are not money because?

By balance of visible trade we mean?

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

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

Capital earns income because?

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

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

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

International trade arise because?

Commercial banks can create money in the following ways

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

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

When we draw a market demand curve, we?

Production in Economics occurs when

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

A disadvantage of the corporate form of business is the?

A limited liability company is owned by?

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

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

Price control indicate the following

An economic problem arises when?

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

Division of labour is limited by the?

Commercial banks can create money in the following ways?

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

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

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

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