JAMB UTME - Economics - 1980

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

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

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

Which is the dominant form of tax in Nigeria

Which is NOT a function of Central Bank in West Africa

By subsistence production we mean?

The budget of Nigeria will be deficit if

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

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

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

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

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

Production in Economics occurs when

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

In Nigeria, cheques are not money because?

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

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

Which of the taxes appear generally progressive in nature?

One of the disadvantages of division of labour is that?

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

By balance of visible trade we mean?

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

The terms of trade are said to be favorable only if

A limited liability company is owned by?

Division of labour is limited by the?

In a subsistence economy?

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

Capital earns income because?

The fundamental problem of Economics is?

Division of labour means?

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?

The marginal physical product of labour is?

A disadvantage of the corporate form of business is the?

When we draw a market demand curve, we?

A commercial bank is able to create money

The value of money depends primarily on?

Price control indicate the following

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

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

Commercial banks can create money in the following ways?

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

An economic problem arises when?

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

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

Commercial banks can create money in the following ways

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

International trade arise because?

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

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