A) its subject matter studies human behaviour B) It adopts scientific method in making its analysis C) its issues are relevant for national development
A) the wages given up to attend the university B) transportation and entertainment C) tuition fee and books
A) fuel B) machinery C) raw material
A) directives of the government B) producers of consumer goods C) the pattern of consumers spending
A) desire for the commodity B) ability to pay for the commodity C) ability to pay for the commodity
A) mobile phone B) labour C) textbook
A) the level of technology B) taxation C) cost of production
A) offered for sale at a market price B) from a single producer C) produced for the market
A) time period B) nature of the product C) cost of production
A) increase in the income of consumers B) increase in the price of a product C) a fall in the cost of production
A) equal to his marginal utility B) less than his total utility C) equal to his total utility
A) price legislation B) inadequate information C) excess supply
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 save time and produce more B) become experts in all areas of production C) can concentrate on all goods
A) marginal cost B) total revenue C) total fixed cost
A) total profit B) total revenue C) total cost
A) he determines either price or output B) his average revenue cost is horizontal C) he determines both price and output
A) private firm B) statutory company C) public company
A) public limited company B) public corporation C) partnership
A) demand of labour B) supply of labour C) labour force
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) consumers cooperative society B) sales agents C) producers cooperative society
A) pensions B) interest C) rent
A) add net factor income from abroad B) avoid multiple counting of output C) measure output as a factor cost
A) devaluation B) deflation C) inflation
A) total level of savings B) size of workers C) general price
A) medium of exchange B) stable in value C) store of value
A) accepts deposit from the public B) lender of last resort C) services the public debts
A) capital gain tax B) excise duty C) specific tax
A) low life expectancy B) income inequality C) high productivity
A) savings and investment B) early marriage C) importation of more consumers goods
A) industries producing baby products B) industries enjoying tax holidays C) newly established industries
A) absolute cost advantage B) terms of trade C) comparative advantage
A) rice B) coal C) iron ore
A) land degradation B) re afforestation in rural communities 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) economic development B) scarcity of resources C) unemployment of labour
A) entrepreneur B) management C) labour union
A) demand falls as output rises B) demand falls as output falls C) prices must be lowered to sell more
A) complementary goods B) normal goods C) inferior goods
A) change in taste of the consumer B) expectation of future price increase C) increases in price of the consumer
A) joint supply B) complementary demand C) competitive demand
A) It rises with demand B) It varies with time C) It is fixed
A) perfectly inelastic B) infinitely elastic supply C) fairly elastic supply
A) there is no government intervention B) the demand is the same as the supply 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) residual unemployment B) structural unemployment C) seasonal unemployment
A) profits B) wages and salaries C) rent
A) a speculative motive B) a transaction motive C) a precautionary motive
A) commodity market B) money market C) capital market
A) corruption and mismanagement B) the large number of the unemployed C) inadequate supply of money
A) trading B) agriculture C) mining
A) increasing local production B) adding to export group C) reducing tarrifs
A) money market B) labour market C) capital market
A) comparative cost B) variable cost C) fixed cost
A) borrowing is discouraged B) money supply increases C) customers increase their borrowing
A) primary sector B) secondary sector C) tertiary sector
A) more public goods are provided B) subsidy is provided on petroleum products C) more private schools are established |