JAMB UTME - Economics - 1980

One of the disadvantages of division of labour is that?

International trade arise because?

Division of labour means?

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

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

Production in Economics occurs when

The budget of Nigeria will be deficit if

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

Division of labour is limited by the?

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

When we draw a market demand curve, we?

Commercial banks can create money in the following ways

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

In Nigeria, cheques are not money because?

The marginal physical product of labour is?

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?

The value of money depends primarily on?

Which is the dominant form of tax in Nigeria

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

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

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

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

Price control indicate the following

A limited liability company is owned by?

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

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?

Utility of a commodity means?

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

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 one of the balance of payment entries?

Capital earns income because?

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

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

A commercial bank is able to create money

Commercial banks can create money in the following ways?

By balance of visible trade we mean?

The fundamental problem of Economics is?

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

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

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

By subsistence production we mean?

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

An economic problem arises when?

Which of the taxes appear generally progressive in nature?

In a subsistence economy?

A disadvantage of the corporate form of business is the?

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

Which is NOT a function of Central Bank in West Africa

The terms of trade are said to be favorable only if