JAMB UTME - Economics - 1980

Which is the dominant form of tax in Nigeria

The value of money depends primarily on?

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

Price control indicate the following

By balance of visible trade we mean?

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?

An economic problem arises when?

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

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

A commercial bank is able to create money

When we draw a market demand curve, we?

By subsistence production we mean?

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

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

One of the disadvantages of division of labour is that?

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

The fundamental problem of Economics is?

A limited liability company is owned by?

Which of the taxes appear generally progressive in nature?

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

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

A disadvantage of the corporate form of business is the?

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?

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

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

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

In a subsistence economy?

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

The terms of trade are said to be favorable only if

International trade arise because?

Division of labour means?

Commercial banks can create money in the following ways?

In Nigeria, cheques are not money because?

Which is NOT a function of Central Bank in West Africa

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

The budget of Nigeria will be deficit if

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

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

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

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

Division of labour is limited by the?

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

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

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

Capital earns income because?

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

Production in Economics occurs when

Commercial banks can create money in the following ways