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

A limited liability company is owned by?

By subsistence production we mean?

Which is NOT a function of Central Bank in West Africa

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?

Which is the dominant form of tax in Nigeria

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

Division of labour is limited by the?

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

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

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

Utility of a commodity means?

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

The terms of trade are said to be favorable only if

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

An economic problem arises when?

The budget of Nigeria will be deficit if

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?

The marginal physical product of labour is?

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

International trade arise because?

The fundamental problem of Economics is?

Which of the taxes appear generally progressive in nature?

Price control indicate the following

A commercial bank is able to create money

A disadvantage of the corporate form of business is the?

The value of money depends primarily on?

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

Capital earns income because?

One of the disadvantages of division of labour is that?

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

In Nigeria, cheques are not money because?

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

Production in Economics occurs when

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

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

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

Division of labour means?

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

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

Commercial banks can create money in the following ways

Commercial banks can create money in the following ways?

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

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

When we draw a market demand curve, we?

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

In a subsistence economy?

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

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