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