JAMB UTME - Economics - 1980

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

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

In a subsistence economy?

Commercial banks can create money in the following ways?

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

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

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

Utility of a commodity means?

The value of money depends primarily on?

The budget of Nigeria will be deficit if

The terms of trade are said to be favorable only if

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

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

An economic problem arises when?

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

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

A limited liability company is owned by?

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

The fundamental problem of Economics is?

Production in Economics occurs 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

In Nigeria, cheques are not money because?

By balance of visible trade we mean?

One of the disadvantages of division of labour is that?

Capital earns income because?

Which is NOT a function of Central Bank in West Africa

Division of labour means?

When we draw a market demand curve, we?

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

International trade arise because?

A disadvantage of the corporate form of business is the?

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

Which of the taxes appear generally progressive in nature?

Price control indicate the following

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

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

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

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

Which is the dominant form of tax in Nigeria

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

The marginal physical product of labour is?

Division of labour is limited by the?

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

A commercial bank is able to create money

By subsistence production we mean?

Which is NOT a cause of high population growth 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?

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

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

Commercial banks can create money in the following ways