JAMB UTME - Economics - 1980

A commercial bank is able to create money

Which is the dominant form of tax in Nigeria

Price control indicate the following

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

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

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

Utility of a commodity means?

Division of labour is limited by the?

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

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

In Nigeria, cheques are not money because?

When we draw a market demand curve, we?

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

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?

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

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

Which of the taxes appear generally progressive in nature?

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

International trade arise because?

The marginal physical product of labour is?

The fundamental problem of Economics is?

The budget of Nigeria will be deficit if

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

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

In a subsistence economy?

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

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

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

By balance of visible trade we mean?

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

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?

Commercial banks can create money in the following ways

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

A disadvantage of the corporate form of business is the?

By subsistence production we mean?

The value of money depends primarily on?

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

Which is NOT a function of Central Bank in West Africa

Capital earns income because?

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

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

One of the disadvantages of division of labour is that?

The terms of trade are said to be favorable only if

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

An economic problem arises when?

Commercial banks can create money in the following ways?

A limited liability company is owned by?