JAMB UTME - Economics - 1980

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

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

Production in Economics occurs when

Commercial banks can create money in the following ways?

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

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

Commercial banks can create money in the following ways

The value of money depends primarily on?

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

Division of labour means?

Which is NOT a function of Central Bank in West Africa

One of the disadvantages of division of labour is that?

Division of labour is limited by the?

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

In Nigeria, cheques are not money because?

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

By balance of visible trade we mean?

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

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

When we draw a market demand curve, we?

Capital earns income because?

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

Which is the dominant form of tax in Nigeria

Which of the taxes appear generally progressive in nature?

A commercial bank is able to create money

The marginal physical product of labour is?

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

Price control indicate the following

By subsistence production we mean?

International trade arise because?

An economic problem arises when?

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

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

Utility of a commodity means?

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

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

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

In a subsistence economy?

A disadvantage of the corporate form of business is the?

The fundamental problem of Economics is?

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

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

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

The budget of Nigeria will be deficit if

A limited liability company is owned by?

The terms of trade are said to be favorable only if

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

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

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