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