SS3 Mock Examinations
A) Scarcity B) Inflation C) Poverty D) Unemployment
A) Socialist B) Capitalist C) Command D) Mixed
A) Perfect Competition B) Oligopoly C) Monopsony D) Monopoly
A) To reduce unemployment B) To control inflation C) All of the above D) To promote economic growth
A) Price floor B) Price mechanism C) Price Ceiling D) Price control
A) price of the commodity B) income distribution C) taste and fashion D) the size of the population
A) 0.65 B) 0.50 C) 2.00 D) 2.50
A) monetary policy B) fiscal policy C) export policy D) import policy
A) utilities enjoyed by consumers B) consumer’s wants in order of priority C) opportunity cost of goods consumed D) Incomes of consumer in order of size
A) net present value B) net national product C) net indirect taxes D) net factor income
A) Is Vertical B) Slopes upward C) Is Horizontal D) Slopes downward
A) the amount paid to a worker on transfer B) money transferred to another country C) unemployment allowance paid to the citizens D) transfer of funds from one bank to another
A) Service industry B) Mining industry C) Processing industry D) Construction industry
A) he equates marginal utility and price B) he can equate his demand with price C) he can equate his marginal and total utilities D) his marginal utility is equal to zero
A) current account transaction B) invisible balance account transaction C) capital account transaction D) balance of trade 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) 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’s efficiency depends on its size D) it is an active factor
A) capitalist economies B) socialist economies C) command economies D) statutory corporations
A) determination of price by market forces. B) setting of production targets by public authorities. C) private ownership of productive inputs. D) freedom of choice for consumers.
A) 300° B) 60° C) 150° D) 16.6°
A) demand for the product B) price of the product C) price of another product D) income of the buyer
A) zero B) greater than one C) one D) less 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 favorable weather condition B) an increase in income of consumers C) a change in taste in favour of milk D) a decrease in the price of milk
A) complementary demand B) competitive demand C) composite demand D) derived demand
A) quantity supplied only B) supply only C) price only D) price and supply
A) fairly inelastic B) perfectly elastic C) perfectly inelastic D) fairly elastic
A) diminishing returns to scale B) consumer’s choice C) diminishing marginal utility D) increasing return to scale
A) government B) consumers C) foreign companies D) small scale producers
A) marginal revenue to fall B) average cost to rise C) marginal cost to fall D) firm to be de-stabilized
A) increasing the size of its machines B) purchasing more equipments C) increasing the quantity of raw materials D) changing its organizational structure
A) $10 B) $8 C) $4 D) $15
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) indigenization C) liberalization D) commercialization
A) departmental stores B) supermarkets C) wholesalers D) retailers
A) unemployment benefit rises B) there are less monetary benefits C) holiday entitlement is cut D) welfare packages improve
A) fertility rate B) death rate C) immigration rate D) net migration
A) the law of increasing returns to scale B) the use of simple traditional implements C) laziness on the part of farmers D) the presence of many extension workers |
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