A) optimum production levels B) attainable and efficient production levels C) unattainable production levels D) attainable but inefficient production levels
A) Its efficiency depends on its size B) It is highly mobile C) Its reward is wages or salaries D) It is an active factor
A) Socialist economic B) Command economic C) Statutory economic D) Capitalist economic
A) Determination of Price by market forces B) Setting of production targets by public authorities C) Freedom of choice for consumers D) Private ownership of productive input
A) 16.6° B) 150° C) 300° D) 60°
A) Price of the product B) Income of the buyer C) Demand for the product D) Price of another product
A) Less then one B) One C) Zero D) Greater then one
A) 66.7% B) 50.0% C) 33.3% D) 30.0%
A) Normal goods are involved B) Incomes of consumers increase C) Rare commodities D) Size of the production change
A) Perfectly elastic B) fairly elastic C) fairly inelastic D) perfectly inelastic
A) consumer's choice B) diminishing marginal utility C) diminishing returns to scale D) increasing returns to scale
A) Government B) Small scale producers C) Consumers D) foreign companies.
A) firm to be de- stabilized B) marginal revenue to fall C) marginal cost to fall D) average cost to rise
A) increasing the quantity of raw materials B) changing its organizational structure C) increasing the size of its machines D) purchasing more equipment
A) $8 B) $4 C) $10 D) $6
A) more firms can enter the industry due to attractive prof its B) new firms can not enter the market due to copyright laws C) marginal revenue is greater than marginal cost at all levels D) profits are not enough to repay traders' loans
A) nationalization B) indigenization C) commercialization D) liberalization
A) constimer co- operative society B) partnership C) sole proprietorship D) joint-stock company
A) Supermarket B) Department store C) Retailers D) Wholesalers
A) unemployment benefit rises B) holiday entitlement is cut C) welfare packages improve D) there are less monetary benefits
A) merchant banks B) development banks C) Stock exchange D) central banks
A) fertility rate. B) death rate C) immigration rate. D) net migration.
A) the use of simple traditional implements B) laziness on the part of farmers C) the presence of many extension workers D) the law of increasing returns to scale
A) More jobs will be available for farm labourers B) Governments will no longer be involved in agriculture C) Less labour will be required on the farm D) Labour intensive method of farming will still be dominant
A) laundry women B) subsistence farmers C) musicians D) housekeepers
A) standard for deferred payment B) relative scarcity C) unit of account D) store of value
A) money given out as loans to members of the public B) amount of currency printed annually by the government. C) amount of money spent on consumer goods D) money in circulation plus bank deposits
A) supply of and demand for short term loans only B) supply of and demand for long term loans for investment C) sales and purchases of treasury bills D) sales and purchases of capital equipment
A) the buyers alone B) both the sellers and the buyers C) both the buyers and the government D) the government alone
A) high rate of household savings B) high rate of investment C) low importation of consumer goods D) low per capita income
A) Rubber B) Oil palm C) Cocoa D) Coal
A) Complementary demand B) Market demand C) Derived demand D) Competitive demand
A) Become vertical B) Shift to the left C) Remain unchanged D) Shift to the right
A) Composite B) Complementary supply C) Joint supply D) Abnormal supply
A) Be about external economies of scale B) Be able to reap internal economies of scake C) Encourage rural urban migration D) Be able to even out development
A) rank individuals' wants given the abundant resources B) produce all the goods needed by everyone C) make choice when resources are inadequate D) satisfy every member of all societies
A) private company B) partnership C) joint stock company D) cooperative society
A) upward sloping B) horizontal C) vertical D) downward sloping
A) technological economies of scale B) financial economies of scale C) government protection and funding D) external economies of scale
A) residual unemployment B) technological unemployment C) cyclical unemployment D) frictional unemployment
A) the same amount of money buys lower quantity of goods B) there is a decrease in the demand for goods and services C) people prefer to lend than to borrow D) there are too many goods in circulation
A) purchase of new vehicles B) paying salaries of workers C) electrification projects in rural areas D) the cost of building a school
A) a fall in demand B) a decrease in revenue C) a fall in quantity demanded D) an increase in revenue
A) total active population who depend on government for survival B) the children and aged who rely on the active population for support C) number of children who depend on their parents for survival D) people who are cared for by their extended families
A) turn negative B) remain constant C) increase D) decrease
A) advertising agencies B) wholesalers C) retailers D) mass media
A) both population and food supply increase at the same rate B) food supply increases much faster than population growth C) population increases much faster than food supply D) the size of the population and available resources are equal
A) $60m B) $40m C) $30m D) $500m
A) the difference between birth rate and death rate B) initial population plus number of births and net migration C) birth rate less death rate plus net migration D) the number of immigrants plus number of births
A) local firms entering into partnerships with foreign firms B) setting up industrial estates with modern amenities C) granting capital to firms at reasonable interest rates D) granting old firms tax exemptions
A) wages in the sector is high B) labour intensive method is mostly adopted C) they practice mechanized system of farming D) abnormal profits are made
A) poll taxes B) direct taxes C) corporate taxes D) indirect taxes
A) cash B) cheque C) bonds D) shares
A) supply of kerosene will fall B) supply of kerosene will rise C) cost of crude oil production has increased D) supply of kerosene will remain unchanged
A) selected essential goods B) inferior goods C) imported capital goods D) luxury goods
A) 7 B) 7.5 C) 8.5 D) 8
A) monetary policies B) foreign exchange policies C) trade restriction policies D) fiscal policies
A) the income per head is low B) the population is decreasing C) there is low labour supply D) the contribution of tertiary sector to national income is high
A) Production of the same commodities B) Inadequate supply of labour C) Poor transportation and communication D) Language barriers
A) stability B) growth C) efficiency D) development |