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