JAMB UTME - Economics - 1980

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

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?

Which of the taxes appear generally progressive in nature?

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

The terms of trade are said to be favorable only if

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

By subsistence production we mean?

Commercial banks can create money in the following ways?

International trade arise because?

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

Production in Economics occurs when

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

By balance of visible trade we mean?

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

Price control indicate the following

A disadvantage of the corporate form of business is the?

Division of labour is limited by the?

Capital earns income because?

Which is NOT a function of Central Bank in West Africa

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

In Nigeria, cheques are not money because?

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

The budget of Nigeria will be deficit if

The value of money depends primarily on?

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

In a subsistence economy?

When we draw a market demand curve, we?

An economic problem arises when?

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

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

Commercial banks can create money in the following ways

The marginal physical product of labour is?

One of the disadvantages of division of labour is that?

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

A commercial bank is able to create money

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

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

Utility of a commodity means?

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

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

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

Which is the dominant form of tax in Nigeria

A limited liability company is owned by?

Division of labour means?

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

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 NOT a measure for controlling inflation?

The fundamental problem of Economics is?

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