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