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