A) Greater than equilibrium supply B) Less than the equilibrium supply C) None of these D) Determined later by government E) . The same as equilibrium supply
A) too many things are produced in the country 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) the population is too large
A) competitive demand B) cross-elasticity of demand C) composite demand D) Joint demand
A) scarcity B) resources C) wants D) capital
A) acts of nature B) use of machines C) application of human effort D) application of fertilizer
A) trade union B) price mechanisms C) government department D) state planning committee.
A) he maximizes his satisfaction from spending his income B) the market is also in equilibrium C) he has consumed all he wants D) his market Supply is equal to his market demand
A) competitive supply B) joint supply C) market Supply D) composite supply
A) composite supply B) competitive supply C) joint demand D) joint supply
A) there is a leftward shift of the supply curve B) more is sold at different prices C) more is sold at the same price D) there is a movement along the supply curve
A) Helps producers to know what to produce B) Enables individuals to satisfy all their wants C) Restores equilibrium between producers and consumers D) . Helps in the utilization of scarce resources
A) Dress and Jewelry B) Jewelry C) Dress D) Handbag and Jewelry.
A) Risk-bearing. B) Planning C) Management. D) Control.
A) The operation of price mechanism. B) A government distribution agencies C) Retailers only. D) A central planning committee
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) Demand to fall substantially. B) Farmer's incomes to be more than doubled C) Price to fall substantially. D) Price to increase substantially.
A) Price of commodity X will increase B) Demand for the substitute of commodity X will decrease C) Demand for 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) Fairly elastic. B) Inelastic. C) Unitary elastic. D) Perfectly inelastic.
A) An increase in quantity supplied B) A decrease in supply C) A decrease in quantity supplied D) An increase in supply.
A) Increasing taxes on inputs. B) Encouraging them to produce surplus output. C) Fixing maximum prices. D) Fixing minimum prices
A) $150.03 B) $1.50 C) $166.67 D) $15.00
A) shortage in the in market B) surplus in the market C) rationing to be introduced D) black market to come into operation
A) competitive supply B) composite supply C) market Supply D) joint supply
A) 0.50 B) 2.00 C) 1.00 D) 1.50
A) taste and fashion B) price of the commodity C) income distribution D) the size of the population
A) slopes downward B) Is vertical C) slopes upward D) is horizontal
A) competitive supply B) market supply C) unitory supply D) composite supply
A) government regulation is no longer needed B) market surplus occurs C) the market will be cleared in the short-run D) excess demand occurs
A) low level of technology B) excess supply of labour C) increase in the export of goods D) excessive demand for the product |