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