JAMB UTME - Economics - 1980

By subsistence production we mean?

The budget of Nigeria will be deficit if

When we draw a market demand curve, we?

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?

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?

Division of labour means?

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

Capital earns income because?

A commercial bank is able to create money

In a subsistence economy?

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

The terms of trade are said to be favorable only if

The fundamental problem of Economics is?

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

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

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

Commercial banks can create money in the following ways

An economic problem arises when?

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

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

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

International trade arise because?

Which is the dominant form of tax in Nigeria

By balance of visible trade we mean?

Price control indicate the following

Commercial banks can create money in the following ways?

One of the disadvantages of division of labour is that?

The marginal physical product of labour is?

Division of labour is limited by the?

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

A limited liability company is owned by?

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

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

Utility of a commodity means?

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

A disadvantage of the corporate form of business is the?

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

The value of money depends primarily on?

In Nigeria, cheques are not money because?

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

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

Production in Economics occurs when

Which of the taxes appear generally progressive in nature?

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

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 is NOT a function of Central Bank in West Africa

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