JAMB UTME - Economics - 1980

Division of labour means?

A commercial bank is able to create money

Production in Economics occurs when

In Nigeria, cheques are not money because?

The value of money depends primarily on?

Which is the dominant form of tax in Nigeria

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?

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

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

Division of labour is limited by the?

The terms of trade are said to be favorable only if

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

When we draw a market demand curve, we?

Price control indicate the following

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

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?

By subsistence production we mean?

The fundamental problem of Economics is?

International trade arise because?

The marginal physical product of labour is?

Utility of a commodity means?

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

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

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

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

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

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 taxes appear generally progressive in nature?

Commercial banks can create money in the following ways?

A limited liability company is owned by?

Which is NOT a function of Central Bank in West Africa

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

One of the disadvantages of division of labour is that?

An economic problem arises when?

In a subsistence economy?

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

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

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

The budget of Nigeria will be deficit if

Capital earns income 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 measure for controlling inflation?

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

A disadvantage of the corporate form of business is the?

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

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

By balance of visible trade we mean?