JAMB UTME - Economics - 1980

Commercial banks can create money in the following ways

An economic problem arises when?

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

Which of the taxes appear generally progressive in nature?

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

Division of labour means?

Utility of a commodity means?

One of the disadvantages of division of labour is that?

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

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

The terms of trade are said to be favorable only if

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

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

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

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

Division of labour is limited by the?

In Nigeria, cheques are not money because?

A limited liability company is owned by?

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

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

Which is the dominant form of tax in Nigeria

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

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

Production in Economics occurs when

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

By balance of visible trade we mean?

A commercial bank is able to create money

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

Price control indicate the following

The fundamental problem of Economics is?

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

Capital earns income because?

A disadvantage of the corporate form of business is the?

Which is NOT a function of Central Bank in West Africa

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

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

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

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

The value of money depends primarily on?

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

By subsistence production we mean?

The marginal physical product of labour is?

The budget of Nigeria will be deficit if

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?

When we draw a market demand curve, we?

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

Commercial banks can create money in the following ways?

In a subsistence economy?

International trade arise because?

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