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61
Which of the following is not an indirect tax?
  • A. excise duty
  • B. company tax
  • C. import duty
  • D. export duty
  • E. sales tax
View Answer & Discuss (3) JAMB 1979
62
Average cost is
  • A. the total cost of production
  • B. the extra cost of producing one additional unit of output
  • C. cost of producing a unit of output
  • D. variable cost
  • E. overhead cost
View Answer & Discuss (1) JAMB 1979
63
opportunity cost is the
  • A. price of scarce goods
  • B. resources required for making a commodity
  • C. cost of luxury goods
  • D. accrual of financial loses by chance
  • E. althernative forgone in other to satisfy a want
View Answer & Discuss (1) JAMB 1979
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
64
The quantity supplied of a commodity increases best when
  • A. Production increases
  • B. Demand increases
  • C. Price of the commodity increases
  • D. Population of the country increases
  • E. More commodities are imported
View Answer & Discuss (9) JAMB 1979
65
The country will be over populated when
  • A. the rate of birth is high
  • B. the death rate is low
  • C. the growth rate is high
  • D. population is increasing more than resources in the country
  • E. unemployement is high in the country
View Answer & Discuss (4) JAMB 1979
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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