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