JAMB UTME - Economics - 1980

A disadvantage of the corporate form of business is the?

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

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

The fundamental problem of Economics is?

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?

A commercial bank is able to create money

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

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

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

In a subsistence economy?

The value of money depends primarily on?

An economic problem arises when?

Which is the dominant form of tax in Nigeria

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

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

Production in Economics occurs when

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

One of the disadvantages of division of labour is that?

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

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

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

Capital earns income because?

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

By subsistence production we mean?

Commercial banks can create money in the following ways?

The marginal physical product of labour is?

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

Price control indicate the following

The terms of trade are said to be favorable only if

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

Utility of a commodity means?

International trade arise because?

Which of the taxes appear generally progressive in nature?

Division of labour is limited by the?

By balance of visible trade we mean?

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

In Nigeria, cheques are not money because?

The budget of Nigeria will be deficit if

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

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

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

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

When we draw a market demand curve, we?

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

Which is NOT a function of Central Bank in West Africa

A limited liability company is owned by?

Commercial banks can create money in the following ways

Division of labour means?

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

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