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