JAMB UTME - Economics - 1980

International trade arise because?

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?

When we draw a market demand curve, we?

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

By balance of visible trade we mean?

Division of labour is limited by the?

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

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

By subsistence production we mean?

Which of the taxes appear generally progressive in nature?

The terms of trade are said to be favorable only if

The value of money depends primarily on?

Utility of a commodity means?

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

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

The fundamental problem of Economics is?

In a subsistence economy?

In Nigeria, cheques are not money because?

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

Which is NOT a function of Central Bank in West Africa

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

Price control indicate the following

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

Capital earns income because?

One of the disadvantages of division of labour is that?

An economic problem arises when?

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

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

Production in Economics occurs when

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

Division of labour means?

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

Which is the dominant form of tax in Nigeria

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

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

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

The marginal physical product of labour is?

A limited liability company is owned by?

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

Commercial banks can create money in the following ways?

A commercial bank is able to create money

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 a correct definition of equilibrium price?

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

The budget of Nigeria will be deficit if

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

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

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

A disadvantage of the corporate form of business is the?