SS3 Mock Examinations
A) Inflation B) Unemployment C) Scarcity D) Poverty
A) Command B) Mixed C) Socialist D) Capitalist
A) Oligopoly B) Monopoly C) Monopsony D) Perfect Competition
A) All of the above B) To control inflation C) To reduce unemployment D) To promote economic growth
A) Price floor B) Price Ceiling C) Price mechanism D) Price control
A) price of the commodity B) income distribution C) taste and fashion D) the size of the population
A) 0.50 B) 2.00 C) 0.65 D) 2.50
A) monetary policy B) export policy C) import policy D) fiscal policy
A) consumer’s wants in order of priority B) opportunity cost of goods consumed C) Incomes of consumer in order of size D) utilities enjoyed by consumers
A) net indirect taxes B) net national product C) net factor income D) net present value
A) Is Vertical B) Is Horizontal C) Slopes downward D) Slopes upward
A) transfer of funds from one bank to another B) money transferred to another country C) the amount paid to a worker on transfer D) unemployment allowance paid to the citizens
A) Construction industry B) Processing industry C) Mining industry D) Service industry
A) his marginal utility is equal to zero B) he equates marginal utility and price C) he can equate his demand with price D) he can equate his marginal and total utilities
A) capital account transaction B) invisible balance account transaction C) balance of trade account transaction D) current account transaction
A) factors of production are free to move and be moved B) common currency is in use C) the size of the market is widened D) common agricultural policy is in place
A) unattainable production levels. B) optimum production levels. C) attainable and efficient production levels. D) attainable but inefficient production levels.
A) it is an active factor B) it’s efficiency depends on its size C) it is highly mobile D) it’s reward is wages and salaries
A) socialist economies B) capitalist economies C) statutory corporations D) command economies
A) freedom of choice for consumers. B) setting of production targets by public authorities. C) determination of price by market forces. D) private ownership of productive inputs.
A) 150° B) 16.6° C) 60° D) 300°
A) demand for the product B) income of the buyer C) price of another product D) price of the product
A) zero B) less than one C) greater than one D) one
A) 65% B) 30% C) 80% D) 33.3%
A) size of the population changes B) rare commodities are involved C) normal goods are involved D) income and consumers increase 
A) a change in taste in favour of milk B) a favorable weather condition C) an increase in income of consumers D) a decrease in the price of milk
A) composite demand B) derived demand C) competitive demand D) complementary demand
A) price and supply B) supply only C) price only D) quantity supplied only
A) fairly elastic B) fairly inelastic C) perfectly inelastic D) perfectly elastic
A) increasing return to scale B) diminishing marginal utility C) diminishing returns to scale D) consumer’s choice
A) consumers B) government C) small scale producers D) foreign companies
A) firm to be de-stabilized B) marginal revenue to fall C) marginal cost to fall D) average cost to rise
A) changing its organizational structure B) increasing the quantity of raw materials C) purchasing more equipments D) increasing the size of its machines
A) $4 B) $8 C) $15 D) $10
A) profits are not enough to repay traders' loans. B) more firms can enter the industry due to attractive prof its. C) new firms can not enter the market due to copyright laws. D) marginal revenue is greater than marginal cost at all levels.
A) commercialization B) indigenization C) liberalization D) nationalization
A) departmental stores B) supermarkets C) retailers D) wholesalers
A) holiday entitlement is cut B) unemployment benefit rises C) there are less monetary benefits D) welfare packages improve
A) fertility rate B) death rate C) immigration rate D) net migration
A) laziness on the part of farmers B) the use of simple traditional implements C) the presence of many extension workers D) the law of increasing returns to scale |
Created with That Quiz —
the site for test creation and grading in math and other subjects.