1980 JAMB UTME Economics Past Questions

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1980

A government imposes a binding price ceiling. Which listed statement describes this maximum legal price compared with the uncontrolled market's equilibrium price?

1980

Which is not a usual central-bank function, but is instead a service commercial banks offer to ordinary private customers?

1980

Compared with the uncontrolled market equilibrium, which choice describes the maximum legal price under a binding price ceiling?

1980

Using agricultural raw materials as the basis for classification, which of these is NOT an agro-based industry in Nigeria?

1980

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

1980

Which statement gives the general economic definition of production, rather than particular examples of productive activities?

1980

By balance of visible trade we mean?

1980

Which choice gives the complete set of listed differences that can encourage international trade?

1980

Which choice specifically describes the satisfaction a consumer actually experiences from consuming a commodity, rather than its capacity to satisfy a want or its practical usefulness?

1980

Commercial banks can create money in the following ways?

1980

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

1980

By subsistence production we mean?

1980

An economic problem arises when?

1980

The budget of Nigeria will be deficit if

1980

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

1980

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

1980

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

1980

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?

1980

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

1980

A limited liability company is owned by?

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