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