JAMB UTME - Economics - 1980

A disadvantage of the corporate form of business is the?

The value of money depends primarily on?

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?

In Nigeria, cheques are not money because?

The marginal physical product of labour is?

In a subsistence economy?

Commercial banks can create money in the following ways?

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

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

A limited liability company is owned by?

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

International trade arise because?

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

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

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 taxes appear generally progressive in nature?

Price control indicate the following

The terms of trade are said to be favorable only if

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

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

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

Division of labour is limited by the?

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

Commercial banks can create money in the following ways

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

Utility of a commodity means?

Which is the dominant form of tax in Nigeria

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

When we draw a market demand curve, we?

Capital earns income because?

An economic problem arises when?

One of the disadvantages of division of labour is that?

The budget of Nigeria will be deficit if

By subsistence production we mean?

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

Which is NOT a function of Central Bank in West Africa

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

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

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

Production in Economics occurs when

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

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

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

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

Division of labour means?

A commercial bank is able to create money

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 determinant of changes in supply?

The fundamental problem of Economics is?

By balance of visible trade we mean?