JAMB UTME - Economics - 1980

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

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

Division of labour means?

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

The terms of trade are said to be favorable only if

Production in Economics occurs when

The value of money depends primarily on?

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

Which is the dominant form of tax in Nigeria

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

In a subsistence economy?

One of the disadvantages of division of labour is that?

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

By balance of visible trade we mean?

The fundamental problem of Economics is?

When we draw a market demand curve, we?

Price control indicate the following

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

International trade arise because?

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

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

The marginal physical product of labour is?

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

A commercial bank is able to create money

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

Capital earns income because?

A limited liability company is owned by?

In Nigeria, cheques are not money because?

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

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

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

Which is NOT a function of Central Bank in West Africa

The budget of Nigeria will be deficit if

Commercial banks can create money in the following ways

Commercial banks can create money in the following ways?

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

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

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?

Utility of a commodity means?

Division of labour is limited by the?

Which of the taxes appear generally progressive in nature?

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

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

An economic problem arises when?

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

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

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

A disadvantage of the corporate form of business is the?

By subsistence production we mean?