JAMB UTME - Economics - 1980

The value of money depends primarily on?

The budget of Nigeria will be deficit if

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

Commercial banks can create money in the following ways?

A commercial bank is able to create money

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

Division of labour means?

In Nigeria, cheques are not money because?

The marginal physical product of labour is?

By subsistence production we mean?

Which is NOT a function of Central Bank in West Africa

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

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

By balance of visible trade we mean?

The terms of trade are said to be favorable only if

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

Commercial banks can create money in the following ways

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

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 determinant of changes in supply?

International trade arise because?

Which is the dominant form of tax in Nigeria

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

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

One of the disadvantages of division of labour is that?

Price control indicate the following

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

Production in Economics occurs when

When we draw a market demand curve, we?

A disadvantage of the corporate form of business is the?

Capital earns income because?

An economic problem arises when?

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

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

The fundamental problem of Economics is?

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

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

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

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

Utility of a commodity means?

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

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

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

Which of the taxes appear generally progressive in nature?

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?

In a subsistence economy?

Division of labour is limited by the?