JAMB UTME - Economics - 1980

A commercial bank is able to create money

Production in Economics occurs when

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

International trade arise because?

When we draw a market demand curve, we?

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

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 the standard concept for measuring and analyzing population growth?

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

A disadvantage of the corporate form of business is the?

In a subsistence economy?

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

By subsistence production we mean?

Which of the taxes appear generally progressive in nature?

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

Which is NOT a function of Central Bank in West Africa

The value of money depends primarily on?

Commercial banks can create money in the following ways?

By balance of visible trade we mean?

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

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

Price control indicate the following

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

A limited liability company is owned by?

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

The marginal physical product of labour is?

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

Capital earns income because?

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?

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

An economic problem arises when?

The fundamental problem of Economics is?

The terms of trade are said to be favorable only if

Which is the dominant form of tax in Nigeria

One of the disadvantages of division of labour is that?

In Nigeria, cheques are not money because?

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

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

The budget of Nigeria will be deficit if

Division of labour means?

Utility of a commodity means?

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

Division of labour is limited by the?

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

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

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

Commercial banks can create money in the following ways

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

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