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