A) Greater than equilibrium supply B) . The same as equilibrium supply C) Determined later by government D) Less than the equilibrium supply E) None of these
A) the population is too large B) while it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled C) control cannot work under military rule D) too many things are produced in the country
A) Joint demand B) cross-elasticity of demand C) competitive demand D) composite demand
A) wants B) scarcity C) capital D) resources
A) application of fertilizer B) use of machines C) acts of nature D) application of human effort
A) trade union B) state planning committee. C) government department D) price mechanisms
A) he maximizes his satisfaction from spending his income B) his market Supply is equal to his market demand C) he has consumed all he wants D) the market is also in equilibrium
A) composite supply B) competitive supply C) joint supply D) market Supply
A) composite supply B) joint supply C) joint demand D) competitive supply
A) more is sold at different prices B) more is sold at the same price C) there is a movement along the supply curve D) there is a leftward shift of the supply curve
A) Enables individuals to satisfy all their wants B) . Helps in the utilization of scarce resources C) Restores equilibrium between producers and consumers D) Helps producers to know what to produce
A) Jewelry B) Dress C) Handbag and Jewelry. D) Dress and Jewelry
A) Control. B) Management. C) Risk-bearing. D) Planning
A) Retailers only. B) A central planning committee C) The operation of price mechanism. D) A government distribution agencies
A) Arrange the data in descending order and add each item to the least. B) . Arrange the data in either ascending or descending order and find what item divides the set in two equal parts. C) Sum the value and divide by the number of items. D) Arrange the data in ascending order and subtract each item from the mean.
A) Demand to fall substantially. B) Price to increase substantially. C) Farmer's incomes to be more than doubled D) Price to fall substantially.
A) Demand for the substitute of commodity X will decrease B) Supply of both commodity X and its substitute will increase. C) Price of commodity X will increase D) Demand for commodity X will decrease
A) An increase in the price of the commodity B) A favourable weather condition. C) A reduction in the cost of raw materials. D) An improvement in innovation and technology.
A) Perfectly inelastic. B) Fairly elastic. C) Inelastic. D) Unitary elastic.
A) A decrease in quantity supplied B) An increase in quantity supplied C) An increase in supply. D) A decrease in supply
A) Fixing maximum prices. B) Fixing minimum prices C) Encouraging them to produce surplus output. D) Increasing taxes on inputs.
A) $15.00 B) $150.03 C) $1.50 D) $166.67
A) shortage in the in market B) surplus in the market C) rationing to be introduced D) black market to come into operation
A) market Supply B) competitive supply C) joint supply D) composite supply
A) 2.00 B) 1.50 C) 0.50 D) 1.00
A) taste and fashion B) income distribution C) price of the commodity D) the size of the population
A) slopes downward B) slopes upward C) Is vertical D) is horizontal
A) market supply B) unitory supply C) competitive supply D) composite supply
A) the market will be cleared in the short-run B) excess demand occurs C) government regulation is no longer needed D) market surplus occurs
A) low level of technology B) excessive demand for the product C) excess supply of labour D) increase in the export of goods |