JAMB UTME - Economics - 1980

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

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

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

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

By subsistence production we mean?

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 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 is the dominant form of tax in Nigeria

Which of the taxes appear generally progressive in nature?

Which is NOT a function of Central Bank in West Africa

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

Division of labour means?

A commercial bank is able to create money

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

Commercial banks can create money in the following ways?

The budget of Nigeria will be deficit if

In a subsistence economy?

A limited liability company is owned by?

The terms of trade are said to be favorable only if

In Nigeria, cheques are not money because?

An economic problem arises when?

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

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

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

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

The value of money depends primarily on?

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

The fundamental problem of Economics is?

Capital earns income because?

One of the disadvantages of division of labour is that?

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

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

By balance of visible trade we mean?

Production in Economics occurs when

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

Utility of a commodity means?

Price control indicate the following

International trade arise because?

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

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

Commercial banks can create money in the following ways

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

Division of labour is limited by the?

The marginal physical product of labour is?

When we draw a market demand curve, we?

A disadvantage of the corporate form of business is the?

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

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

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

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