JAMB UTME - Economics - 1980

One of the disadvantages of division of labour is that?

Production in Economics occurs when

By subsistence production we mean?

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

A limited liability company is owned by?

When we draw a market demand curve, we?

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

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

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

A commercial bank is able to create money

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

The marginal physical product of labour is?

In a subsistence economy?

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

In Nigeria, cheques are not money because?

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

The value of money depends primarily on?

Division of labour is limited by the?

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

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

An economic problem arises when?

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

Commercial banks can create money in the following ways?

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

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

International trade arise because?

Which is the dominant form of tax in Nigeria

By balance of visible trade we mean?

A disadvantage of the corporate form of business is the?

Which of the taxes appear generally progressive in nature?

Price control indicate the following

The terms of trade are said to be favorable only if

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?

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

Which is NOT a function of Central Bank in West Africa

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

Commercial banks can create money in the following ways

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

The fundamental problem of Economics is?

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

Division of labour means?

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

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

Utility of a commodity means?

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

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

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

The budget of Nigeria will be deficit if