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