JAMB UTME - Economics - 1980

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

Production in Economics occurs when

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?

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

The marginal physical product of labour is?

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

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

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

The budget of Nigeria will be deficit if

When we draw a market demand curve, we?

The terms of trade are said to be favorable only if

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?

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

Utility of a commodity means?

Division of labour is limited by the?

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

Which is the dominant form of tax in Nigeria

In a subsistence economy?

A commercial bank is able to create money

A limited liability company is owned by?

Commercial banks can create money in the following ways?

The value of money depends primarily on?

Which is NOT a function of Central Bank in West Africa

The fundamental problem of Economics is?

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

A disadvantage of the corporate form of business is the?

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 of the following is NOT a measure for controlling inflation?

Which of the taxes appear generally progressive in nature?

International trade arise because?

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 one of the balance of payment entries?

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

An economic problem arises when?

By subsistence production we mean?

Price control indicate the following

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

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

Capital earns income because?

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

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

By balance of visible trade we mean?

Division of labour means?

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

Commercial banks can create money in the following ways

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

One of the disadvantages of division of labour is that?