JAMB UTME - Economics - 1980

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

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

Division of labour is limited by the?

A commercial bank is able to create money

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

Commercial banks can create money in the following ways?

The budget of Nigeria will be deficit if

Which of the taxes appear generally progressive in nature?

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

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

The marginal physical product of labour is?

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

The terms of trade are said to be favorable only if

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

A disadvantage of the corporate form of business is the?

Utility of a commodity means?

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

The value of money depends primarily on?

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

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

By balance of visible trade we mean?

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

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

By subsistence production we mean?

In Nigeria, cheques are not money because?

Production in Economics occurs when

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

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

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

When we draw a market demand curve, we?

Which is the dominant form of tax in Nigeria

The fundamental problem of Economics is?

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

Price control indicate the following

An economic problem arises when?

Division of labour means?

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

Which is NOT a function of Central Bank in West Africa

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

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

A limited liability company is owned by?

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

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

Capital earns income because?

Commercial banks can create money in the following ways

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?

One of the disadvantages of division of labour is that?

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

International trade arise because?