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