A) its issues are relevant for national development B) It adopts scientific method in making its analysis C) its subject matter studies human behaviour
A) the wages given up to attend the university B) transportation and entertainment C) tuition fee and books
A) fuel B) raw material C) machinery
A) the pattern of consumers spending B) producers of consumer goods C) directives of the government
A) ability to pay for the commodity B) ability to pay for the commodity C) desire for the commodity
A) mobile phone B) labour C) textbook
A) taxation B) the level of technology C) cost of production
A) from a single producer B) produced for the market C) offered for sale at a market price
A) nature of the product B) cost of production C) time period
A) increase in the income of consumers B) increase in the price of a product C) a fall in the cost of production
A) less than his total utility B) equal to his total utility C) equal to his marginal utility
A) excess supply B) price legislation C) inadequate information
A) demand price B) price fall C) market clearing price
A) average revenue and marginal revenue decreases B) average cost of production decreases as output increases C) total cost of production is increasing
A) can concentrate on all goods B) become experts in all areas of production C) can save time and produce more
A) total revenue B) total fixed cost C) marginal cost
A) total profit B) total revenue C) total cost
A) he determines either price or output B) he determines both price and output C) his average revenue cost is horizontal
A) public company B) private firm C) statutory company
A) public corporation B) partnership C) public limited company
A) demand of labour B) labour force C) supply of labour
A) decrease in standard of living B) increase in food supply C) decrease in cost of living
A) external economies B) extent of the division of labour C) internal economies
A) sales agents B) consumers cooperative society C) producers cooperative society
A) pensions B) interest C) rent
A) avoid multiple counting of output B) add net factor income from abroad C) measure output as a factor cost
A) devaluation B) deflation C) inflation
A) general price B) size of workers C) total level of savings
A) medium of exchange B) stable in value C) store of value
A) services the public debts B) lender of last resort C) accepts deposit from the public
A) specific tax B) capital gain tax C) excise duty
A) income inequality B) low life expectancy C) high productivity
A) early marriage B) savings and investment C) importation of more consumers goods
A) industries enjoying tax holidays B) newly established industries C) industries producing baby products
A) terms of trade B) absolute cost advantage C) comparative advantage
A) rice B) coal C) iron ore
A) re afforestation in rural communities B) land degradation C) pollution of water bodies
A) resources are mismanaged by leaders B) there is no proper planning C) resources are not in adequate supply
A) unemployment of labour B) scarcity of resources C) economic development
A) entrepreneur B) labour union C) management
A) prices must be lowered to sell more B) demand falls as output falls C) demand falls as output rises
A) complementary goods B) inferior goods C) normal goods
A) change in taste of the consumer B) increases in price of the consumer C) expectation of future price increase
A) complementary demand B) joint supply C) competitive demand
A) It is fixed B) It varies with time C) It rises with demand
A) fairly elastic supply B) infinitely elastic supply C) perfectly inelastic
A) the demand is the same as the supply B) there is no government intervention C) there is no free entry and exit
A) greater than average variable cost B) equal to the average cost C) less than average variable cost
A) structural unemployment B) residual unemployment C) seasonal unemployment
A) profits B) rent C) wages and salaries
A) a speculative motive B) a transaction motive C) a precautionary motive
A) money market B) commodity market C) capital market
A) the large number of the unemployed B) inadequate supply of money C) corruption and mismanagement
A) trading B) mining C) agriculture
A) increasing local production B) adding to export group C) reducing tarrifs
A) money market B) capital market C) labour market
A) variable cost B) comparative cost C) fixed cost
A) money supply increases B) customers increase their borrowing C) borrowing is discouraged
A) primary sector B) secondary sector C) tertiary sector
A) subsidy is provided on petroleum products B) more private schools are established C) more public goods are provided |