A) It adopts scientific method in making its analysis B) its subject matter studies human behaviour C) its issues are relevant for national development
A) transportation and entertainment B) tuition fee and books C) the wages given up to attend the university
A) fuel B) machinery C) raw material
A) producers of consumer goods B) directives of the government C) the pattern of consumers spending
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) taxation B) cost of production C) the level of technology
A) produced for the market B) offered for sale at a market price C) from a single producer
A) nature of the product B) cost of production C) time period
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) price legislation B) excess supply C) inadequate information
A) market clearing price B) demand price C) price fall
A) average cost of production decreases as output increases B) average revenue and marginal revenue decreases C) total cost of production is increasing
A) become experts in all areas of production B) can save time and produce more C) can concentrate on all goods
A) marginal cost B) total fixed 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) public company B) private firm C) statutory company
A) public corporation B) public limited company C) partnership
A) supply of labour B) demand of labour C) labour force
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) producers cooperative society B) sales agents C) consumers cooperative society
A) pensions B) rent C) interest
A) avoid multiple counting of output B) measure output as a factor cost C) add net factor income from abroad
A) devaluation B) deflation C) inflation
A) total level of savings B) size of workers C) general price
A) stable in value B) medium of exchange C) store of value
A) lender of last resort B) services the public debts C) accepts deposit from the public
A) excise duty B) specific tax C) capital gain tax
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) iron ore B) coal C) rice
A) pollution of water bodies B) land degradation C) re afforestation in rural communities
A) there is no proper planning B) resources are mismanaged by leaders C) resources are not in adequate supply
A) scarcity of resources B) economic development C) unemployment of labour
A) entrepreneur B) management C) labour union
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) expectation of future price increase B) increases in price of the consumer C) change in taste of the consumer
A) joint supply B) competitive demand C) complementary demand
A) It rises with demand B) It is fixed 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) the demand is the same as the supply C) there is no government intervention
A) less than average variable cost B) greater than average variable cost C) equal to the average cost
A) structural unemployment B) seasonal unemployment C) residual unemployment
A) wages and salaries B) profits C) rent
A) a speculative motive B) a transaction motive C) a precautionary motive
A) capital market B) commodity market C) money market
A) the large number of the unemployed B) inadequate supply of money C) corruption and mismanagement
A) trading B) agriculture C) mining
A) adding to export group B) increasing local production C) reducing tarrifs
A) money market B) labour market C) capital market
A) variable cost B) fixed cost C) comparative cost
A) money supply increases B) customers increase their borrowing C) borrowing is discouraged
A) secondary sector B) tertiary sector C) primary sector
A) more public goods are provided B) more private schools are established C) subsidy is provided on petroleum products |