JAMB UTME - Economics - 1980

Which is NOT a function of Central Bank in West Africa

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

Commercial banks can create money in the following ways

International trade arise because?

By subsistence production we mean?

Which is the dominant form of tax in Nigeria

The value of money depends primarily on?

The fundamental problem of Economics is?

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

Price control indicate the following

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

In a subsistence economy?

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

A commercial bank is able to create money

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

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

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

By balance of visible trade we mean?

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

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

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

A disadvantage of the corporate form of business is the?

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

Utility of a commodity means?

The budget of Nigeria will be deficit if

In Nigeria, cheques are not money because?

Division of labour means?

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

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

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

Production in Economics occurs when

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 NOT a measure for controlling inflation?

An economic problem arises when?

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

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

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

The terms of trade are said to be favorable only 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

A limited liability company is owned by?

Which of the taxes appear generally progressive in nature?

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

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

Commercial banks can create money in the following ways?

Division of labour is limited by the?

The marginal physical product of labour is?

One of the disadvantages of division of labour is that?

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