JAMB UTME - Economics - 1980

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 NOT a function of Central Bank in West Africa

Which of the taxes appear generally progressive in nature?

By subsistence production we mean?

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

The budget of Nigeria will be deficit if

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

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

Division of labour is limited by the?

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?

Which is the dominant form of tax in Nigeria

The marginal physical product of labour is?

In a subsistence economy?

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

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

Division of labour means?

A limited liability company is owned by?

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

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

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

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

The fundamental problem of Economics is?

A disadvantage of the corporate form of business is the?

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

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

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

The terms of trade are said to be favorable only if

An economic problem arises when?

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

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

Capital earns income because?

International trade arise because?

When we draw a market demand curve, we?

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

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

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

Commercial banks can create money in the following ways?

In Nigeria, cheques are not money because?

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

By balance of visible trade we mean?

The value of money depends primarily on?

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

Commercial banks can create money in the following ways

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

One of the disadvantages of division of labour is that?

Utility of a commodity means?

Price control indicate the following

A commercial bank is able to create money

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