A) 20 B) 10 C) 8 D) 5
A) 40 B) 30 C) 25 D) 20
A) mode B) median C) mean D) range
A) single B) grouped C) ungroup D) all of the above
A) the quantity of goods the consumer is prepared to buy B) a table showing the relationship between price and quantity demanded of a commodity C) a table showing the consumer demand in order of importance D) the market demand
A) quantity of goods demanded B) supplier C) quantity of goods supplied D) Interaction of demand and supply
A) Arithmetic mean B) Standard deviation C) Standard mean D) Deviation
A) So B) Some many C) Sum plus D) Summation
A) Mode B) Median C) Mean D) Middle
A) Mode B) Median C) Arithmetic mean D) Mean
A) 40 B) 10 C) 39 D) 20
A) Standard deviation B) Mean deviation C) Range D) Variance
A) Measure of deviation B) Measure of range C) Measure of variation D) Measure of location
A) Mean B) Median C) Range D) Mode
A) Obey B) Interest C) Satisfaction D) Demand and supply
A) Average utility B) Total utility C) Form utility D) Marginal utility
A) Form utility B) Average utility C) Time utility D) Place utility
A) Marginal utility B) Mean utility C) Marginal unit D) Mean unit
A) Perfectly elastic demand B) Income elasticity of demand C) Cross elasticity of demand D) Price elasticity of demand
A) Zero supply B) Supply perfect C) Inelastic supply D) Elastic supply
A) Infinity elasticity B) None C) Greater than one elasticity D) Zero elasticity
A) Zero elasticity B) Unitary elasticity C) Infinite elasticity D) Elastic elasticity
A) marginal utility B) utility C) none of the above D) total utility
A) mean and percentile B) mode and median C) mode and mean D) mean and median
A) Change in total utility / change in consumption B) none of the above C) TU = AUX Qty consumed D) total utility / quantity consumed
A) government policy B) number of producers C) price of other commodities D) availability of close substitute
A) infinitely elastic B) zero elastic C) unitary elastic D) inelastic
A) the consumer’s income B) the consumer’s taste C) a change in population size D) change in the color of the commodity
A) consumer taste remain constant B) consumer has budget constraint C) consumer aims at maximizing his utility D) consumer is assumed irrational
A) desire for the commodity B) economic value of the commodity C) ability to pay for the commodity D) significance of the commodity
A) fairly inelastic demand B) perfectly elastic demand C) fairly elastic demand D) perfectly inelastic demand
A) time period B) size of consumer’s income C) nature of the product D) cost of production
A) place utility B) total utility C) time utility D) form utility
A) shift in the supply curve to the left or to the right B) decrease in price and quantity supplied C) shift in supply curve to the left only D) movement along the supply curve
A) time B) demand C) price D) supply
A) downward sloping from left to right B) downward sloping from right to left C) upward sloping from right to left D) parallel to the quantity axis
A) shift from right to left B) shift from left to right C) shift from left to right and return to its original position D) remain in its former position
A) marginal cost steadily increases B) average cost decreases and then increases C) average cost increases D) total cost decrease
A) Total Fixed Cost (TFC) B) Average Variable Cost (AVC) C) Variable Cost (VC) D) Total Cost (TC)
A) Monopoly market B) Perfect market C) Commodity market D) Common market |