JAMB UTME - Economics - 1980

A disadvantage of the corporate form of business is the?

By subsistence production we mean?

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

When we draw a market demand curve, we?

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

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?

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

Which sector can you say is growing fastest in the Nigeria 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

Division of labour means?

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

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

The terms of trade are said to be favorable only if

Capital earns income because?

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

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

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

Utility of a commodity means?

International trade arise because?

In Nigeria, cheques are not money because?

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

The value of money depends primarily on?

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

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

A limited liability company is owned by?

The fundamental problem of Economics is?

By balance of visible trade we mean?

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

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

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

Production in Economics occurs when

In a subsistence economy?

The marginal physical product of labour is?

Commercial banks can create money in the following ways?

Division of labour is limited by the?

One of the disadvantages of division of labour is that?

Which is NOT a function of Central Bank in West Africa

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

Price control indicate the following

Which of the taxes appear generally progressive in nature?

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

The budget of Nigeria will be deficit if

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 method of raising capital funds in Nigeria?

Commercial banks can create money in the following ways

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

A commercial bank is able to create money