JAMB UTME - Economics - 1980

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

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

Capital earns income because?

International trade arise because?

An economic problem arises when?

Production in Economics occurs when

Which is the dominant form of tax in Nigeria

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

The terms of trade are said to be favorable only if

Commercial banks can create money in the following ways?

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

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

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

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

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 disadvantage of the corporate form of business is the?

In Nigeria, cheques are not money because?

Which is NOT a function of Central Bank in West Africa

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

Commercial banks can create money in the following ways

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

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

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

Price control indicate the following

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

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

The fundamental problem of Economics is?

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

Division of labour means?

A limited liability company is owned by?

In a subsistence economy?

Division of labour is limited by the?

The marginal physical product of labour is?

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

One of the disadvantages of division of labour is that?

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

The value of money depends primarily on?

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

Which of the taxes appear generally progressive in nature?

When we draw a market demand curve, we?

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?

By subsistence production we mean?

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

Utility of a commodity means?

A commercial bank is able to create money

The budget of Nigeria will be deficit if

By balance of visible trade we mean?

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