A) Determined later by government B) Greater than equilibrium supply C) None of these D) . The same as equilibrium supply E) Less than the equilibrium supply
A) the population is too large 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) too many things are produced in the country
A) cross-elasticity of demand B) Joint demand C) composite demand D) competitive demand
A) capital B) wants C) scarcity D) resources
A) application of fertilizer B) use of machines C) acts of nature D) application of human effort
A) government department B) trade union C) state planning committee. D) price mechanisms
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) composite supply B) joint supply C) market Supply D) competitive supply
A) joint supply B) competitive supply C) composite supply D) joint demand
A) more is sold at the same price B) more is sold at different prices C) there is a movement along the supply curve 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) Risk-bearing. B) Management. C) Control. D) Planning
A) Retailers only. B) A central planning committee 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 either ascending or descending order and find what item divides the set in two equal parts. D) Arrange the data in ascending order and subtract each item from the mean.
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) 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 increase in the price of the commodity B) A favourable weather condition. C) A reduction in the cost of raw materials. D) An improvement in innovation and technology.
A) Fairly elastic. B) Inelastic. C) Unitary elastic. D) Perfectly inelastic.
A) An increase in quantity supplied B) A decrease in quantity supplied C) An increase in supply. D) A decrease in supply
A) Fixing minimum prices B) Encouraging them to produce surplus output. C) Increasing taxes on inputs. D) Fixing maximum prices.
A) $150.03 B) $166.67 C) $15.00 D) $1.50
A) rationing to be introduced B) surplus in the market C) shortage in the in market D) black market to come into operation
A) market Supply B) composite supply C) competitive supply D) joint supply
A) 2.00 B) 1.50 C) 0.50 D) 1.00
A) price of the commodity B) taste and fashion C) the size of the population D) income distribution
A) is horizontal B) slopes downward C) slopes upward D) Is vertical
A) composite supply B) market supply C) unitory supply D) competitive supply
A) the market will be cleared in the short-run B) government regulation is no longer needed C) excess demand occurs D) market surplus occurs
A) excess supply of labour B) increase in the export of goods C) low level of technology D) excessive demand for the product |