JAMB UTME - Economics - 1980

International trade arise because?

Which is NOT a function of Central Bank in West Africa

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

Which of the taxes appear generally progressive in nature?

Production in Economics occurs when

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

Division of labour is limited by the?

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?

The budget of Nigeria will be deficit if

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 of the following is a correct definition of equilibrium price?

By balance of visible trade we mean?

Division of labour means?

Price control indicate the following

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

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

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

Utility of a commodity means?

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

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

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

The value of money depends primarily on?

In Nigeria, cheques are not money because?

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

When we draw a market demand curve, we?

A limited liability company is owned by?

An economic problem arises when?

Commercial banks can create money in the following ways

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

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

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

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

A commercial bank is able to create money

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

Commercial banks can create money in the following ways?

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

The fundamental problem of Economics is?

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

One of the disadvantages of division of labour is that?

Capital earns income because?

A disadvantage of the corporate form of business is the?

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

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

Which is the dominant form of tax in Nigeria

The terms of trade are said to be favorable only if

The marginal physical product of labour is?

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

In a subsistence economy?

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

By subsistence production we mean?