Question 521:

• JAMB 1980

Which of the taxes appear generally progressive in nature?

A. Sales taxes
B. The personal income tax
C. Property taxes
D. Corporation taxes
E. None of the above

Question 522:

• JAMB 1980

In a subsistence economy?

A. There is no shortage of goods and services
B. The state is the sole owner of resources
C. Production is largely oriented towards consumption in the rular sector
D. There is no exchange of goods and services
E. Women predominate in all economic activities

Question 523:

• JAMB 1980

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

A. Directly related to price
B. Inversely related to price
C. Independent of price
D. Proportional related to supply
E. Solely dependent on haggling skill

Question 524:

• JAMB 1980

Division of labour is limited by the?

A. Available of raw materials
B. Size of the labour force
C. Size of a labour firm
D. Absolute size of the country's population
E. Per capital income and number of potential buyers

Question 525:

• JAMB 1980

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

A. Debenture holders
B. Company executives
C. Ordinary shareholders
D. Preference shareholders
E. Borad of directors