JAMB UTME - Economics - 1980

Which of the taxes appear generally progressive in nature?

In a subsistence economy?

International trade arise because?

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

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

Capital earns income because?

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

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

A commercial bank is able to create money

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

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

By balance of visible trade we mean?

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

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

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

The budget of Nigeria will be deficit if

Which is NOT a function of Central Bank in West Africa

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

A disadvantage of the corporate form of business is the?

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?

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

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

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

Price control indicate the following

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

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

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

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

Division of labour is limited by the?

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

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

The terms of trade are said to be favorable only if

An economic problem arises when?

Commercial banks can create money in the following ways

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

The marginal physical product of labour is?

Utility of a commodity means?

A limited liability company is owned by?

Which is the dominant form of tax in Nigeria

The value of money depends primarily on?

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

When we draw a market demand curve, we?

One of the disadvantages of division of labour is that?

By subsistence production we mean?

The fundamental problem of Economics is?

Production in Economics occurs when

In Nigeria, cheques are not money because?

Commercial banks can create money in the following ways?