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