JAMB UTME - Economics - 1980

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

The value of money depends primarily on?

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

Division of labour means?

A limited liability company is owned by?

Which of the taxes appear generally progressive in nature?

International trade arise because?

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

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

Commercial banks can create money in the following ways?

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

One of the disadvantages of division of labour is that?

In a subsistence economy?

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

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

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

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

A disadvantage of the corporate form of business is the?

Division of labour is limited by the?

By subsistence production we mean?

Price control indicate the following

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

Capital earns income because?

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

Utility of a commodity means?

In Nigeria, cheques are not money because?

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

The marginal physical product of labour is?

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

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?

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?

The budget of Nigeria will be deficit if

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

The terms of trade are said to be favorable only if

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

Which is NOT a function of Central Bank in West Africa

Which is the dominant form of tax in Nigeria

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

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

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

An economic problem arises when?

Commercial banks can create money in the following ways

Production in Economics occurs when

A commercial bank is able to create money

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?