JAMB UTME - Economics - 1980

Division of labour means?

In a subsistence economy?

One of the disadvantages of division of labour is that?

International trade arise because?

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

Capital earns income because?

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

When we draw a market demand curve, we?

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

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

Utility of a commodity means?

The value of money depends primarily on?

A limited liability company is owned by?

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?

An economic problem arises when?

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

By subsistence production we mean?

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

Division of labour is limited by the?

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

Which is the dominant form of tax in Nigeria

The fundamental problem of Economics is?

Commercial banks can create money in the following ways

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

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

By balance of visible trade we mean?

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

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

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

The budget of Nigeria will be deficit if

A disadvantage of the corporate form of business is the?

Which of the taxes appear generally progressive in nature?

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

Production in Economics occurs when

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

The terms of trade are said to be favorable only if

A commercial bank is able to create money

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

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

In Nigeria, cheques are not money because?

Commercial banks can create money in the following ways?

Price control indicate the following

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

The marginal physical product of labour is?

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

Which is NOT a function of Central Bank in West Africa

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

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