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