JAMB UTME - Economics - 1980

The value of money depends primarily on?

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

Capital earns income because?

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

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

When we draw a market demand curve, we?

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

Utility of a commodity means?

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

Division of labour is limited by the?

The terms of trade are said to be favorable only if

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

The marginal physical product of labour is?

One of the disadvantages of division of labour is that?

A disadvantage of the corporate form of business is the?

Which of the taxes appear generally progressive in nature?

Which is the dominant form of tax in Nigeria

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

In Nigeria, cheques are not money because?

In a subsistence economy?

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

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?

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

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

By subsistence production we mean?

Production in Economics occurs when

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?

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

Division of labour means?

A limited liability company is owned by?

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

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

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

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

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

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 is NOT a function of Central Bank in West Africa

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

International trade arise because?

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

By balance of visible trade we mean?

Price control indicate the following

Commercial banks can create money in the following ways

The fundamental problem of Economics is?

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

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