JAMB UTME - Economics - 1980

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

Division of labour is limited by the?

Capital earns income because?

One of the disadvantages of division of labour is that?

International trade arise because?

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

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 disadvantage of the corporate form of business is the?

Which is the dominant form of tax in Nigeria

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

A limited liability company is owned by?

The value of money depends primarily on?

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

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

In a subsistence economy?

In Nigeria, cheques are not money because?

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

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

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

When we draw a market demand curve, we?

The budget of Nigeria will be deficit if

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

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

By subsistence production we mean?

Production in Economics occurs when

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

Division of labour means?

A commercial bank is able to create money

Utility of a commodity means?

The marginal physical product of labour is?

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

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

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

The fundamental problem of Economics is?

An economic problem arises when?

Commercial banks can create money in the following ways?

By balance of visible trade we mean?

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

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

Which of the taxes appear generally progressive in nature?

Commercial banks can create money in the following ways

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

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

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

Which is NOT a function of Central Bank in West Africa

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

Price control indicate the following

The terms of trade are said to be favorable only if

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

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?