JAMB UTME - Economics - 1980

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

In Nigeria, cheques are not money because?

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

Commercial banks can create money in the following ways

By subsistence production we mean?

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 one of the balance of payment entries?

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

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

International trade arise because?

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

The marginal physical product of labour is?

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

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

Price control indicate the following

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

By balance of visible trade we mean?

The terms of trade are said to be favorable only if

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

One of the disadvantages of division of labour is that?

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

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

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

The value of money depends primarily on?

Which is NOT a function of Central Bank in West Africa

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

The fundamental problem of Economics is?

A limited liability company is owned by?

Division of labour means?

The budget of Nigeria will be deficit if

A disadvantage of the corporate form of business is the?

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

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

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

A commercial bank is able to create money

Division of labour is limited by the?

In a subsistence economy?

Which is the dominant form of tax in Nigeria

Capital earns income because?

Production in Economics occurs when

Utility of a commodity means?

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?

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

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

Which of the taxes appear generally progressive in nature?

An economic problem arises when?

When we draw a market demand curve, we?

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