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