A) Determined later by government B) Less than the equilibrium supply C) None of these D) Greater than equilibrium supply E) . The same as equilibrium supply
A) while it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled B) the population is too large C) control cannot work under military rule D) too many things are produced in the country
A) Joint demand B) competitive demand C) cross-elasticity of demand D) composite demand
A) resources B) scarcity C) wants D) capital
A) acts of nature B) application of fertilizer C) use of machines D) application of human effort
A) government department B) state planning committee. C) price mechanisms D) trade union
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) composite supply B) joint supply C) competitive supply D) market Supply
A) joint demand B) joint supply C) composite supply D) competitive supply
A) more is sold at different prices B) there is a leftward shift of the supply curve C) more is sold at the same price D) there is a movement along 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) Dress C) Jewelry D) Handbag and Jewelry.
A) Control. B) Planning C) Management. D) Risk-bearing.
A) A central planning committee B) The operation of price mechanism. C) A government distribution agencies D) Retailers only.
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 increase substantially. B) Farmer's incomes to be more than doubled C) Demand to fall substantially. D) Price to fall substantially.
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) A favourable weather condition. B) An improvement in innovation and technology. C) A reduction in the cost of raw materials. D) An increase in the price of the commodity
A) Perfectly inelastic. B) Unitary elastic. C) Fairly elastic. D) Inelastic.
A) An increase in supply. B) A decrease in supply C) An increase in quantity supplied D) A decrease in quantity supplied
A) Encouraging them to produce surplus output. B) Increasing taxes on inputs. C) Fixing maximum prices. D) Fixing minimum prices
A) $150.03 B) $15.00 C) $166.67 D) $1.50
A) black market to come into operation B) surplus in the market C) shortage in the in market D) rationing to be introduced
A) composite supply B) market Supply C) joint supply D) competitive supply
A) 1.00 B) 1.50 C) 0.50 D) 2.00
A) income distribution B) the size of the population C) taste and fashion D) price of the commodity
A) is horizontal B) slopes downward C) Is vertical D) slopes upward
A) market supply B) unitory supply C) composite supply D) competitive supply
A) excess demand occurs B) the market will be cleared in the short-run C) market surplus occurs D) government regulation is no longer needed
A) low level of technology B) excessive demand for the product C) excess supply of labour D) increase in the export of goods |