A) optimum production levels B) unattainable production levels C) attainable and efficient production levels D) attainable but inefficient production levels
A) Its reward is wages or salaries B) It is highly mobile C) It is an active factor D) Its efficiency depends on its size
A) Socialist economic B) Statutory economic C) Command economic D) Capitalist economic
A) Determination of Price by market forces B) Freedom of choice for consumers C) Setting of production targets by public authorities D) Private ownership of productive input
A) 60° B) 150° C) 300° D) 16.6°
A) Demand for the product B) Income of the buyer C) Price of the product D) Price of another product
A) Greater then one B) One C) Zero D) Less then one
A) 30.0% B) 33.3% C) 66.7% D) 50.0%
A) Rare commodities B) Size of the production change C) Normal goods are involved D) Incomes of consumers increase
A) Perfectly elastic B) fairly elastic C) fairly inelastic D) perfectly inelastic
A) diminishing marginal utility B) consumer's choice C) increasing returns to scale D) diminishing returns to scale
A) Small scale producers B) Consumers C) foreign companies. D) Government
A) average cost to rise B) marginal revenue to fall C) firm to be de- stabilized D) marginal cost to fall
A) increasing the size of its machines B) changing its organizational structure C) purchasing more equipment D) increasing the quantity of raw materials
A) $4 B) $6 C) $10 D) $8
A) marginal revenue is greater than marginal cost at all levels B) more firms can enter the industry due to attractive prof its C) new firms can not enter the market due to copyright laws D) profits are not enough to repay traders' loans
A) nationalization B) indigenization C) liberalization D) commercialization
A) partnership B) joint-stock company C) constimer co- operative society D) sole proprietorship
A) Wholesalers B) Department store C) Retailers D) Supermarket
A) unemployment benefit rises B) there are less monetary benefits C) holiday entitlement is cut D) welfare packages improve
A) merchant banks B) central banks C) Stock exchange D) development banks
A) death rate B) net migration. C) immigration rate. D) fertility rate.
A) laziness on the part of farmers B) the use of simple traditional implements C) the law of increasing returns to scale D) the presence of many extension workers
A) More jobs will be available for farm labourers B) Labour intensive method of farming will still be dominant C) Governments will no longer be involved in agriculture D) Less labour will be required on the farm
A) musicians B) laundry women C) subsistence farmers D) housekeepers
A) unit of account B) relative scarcity C) store of value D) standard for deferred payment
A) amount of money spent on consumer goods B) money given out as loans to members of the public C) money in circulation plus bank deposits D) amount of currency printed annually by the government.
A) supply of and demand for long term loans for investment B) sales and purchases of treasury bills C) supply of and demand for short term loans only D) sales and purchases of capital equipment
A) both the sellers and the buyers B) both the buyers and the government C) the buyers alone D) the government alone
A) high rate of household savings B) low importation of consumer goods C) high rate of investment D) low per capita income
A) Rubber B) Coal C) Oil palm D) Cocoa
A) Complementary demand B) Market demand C) Competitive demand D) Derived demand
A) Shift to the right B) Become vertical C) Shift to the left D) Remain unchanged
A) Composite B) Abnormal supply C) Complementary supply D) Joint supply
A) Be about external economies of scale B) Be able to reap internal economies of scake C) Be able to even out development D) Encourage rural urban migration
A) make choice when resources are inadequate B) produce all the goods needed by everyone C) rank individuals' wants given the abundant resources D) satisfy every member of all societies
A) cooperative society B) partnership C) private company D) joint stock company
A) upward sloping B) vertical C) horizontal D) downward sloping
A) external economies of scale B) financial economies of scale C) technological economies of scale D) government protection and funding
A) residual unemployment B) frictional unemployment C) technological unemployment D) cyclical unemployment
A) there are too many goods in circulation B) the same amount of money buys lower quantity of goods C) there is a decrease in the demand for goods and services D) people prefer to lend than to borrow
A) the cost of building a school B) electrification projects in rural areas C) paying salaries of workers D) purchase of new vehicles
A) an increase in revenue B) a fall in demand C) a fall in quantity demanded D) a decrease in revenue
A) number of children who depend on their parents for survival B) total active population who depend on government for survival C) people who are cared for by their extended families D) the children and aged who rely on the active population for support
A) remain constant B) increase C) decrease D) turn negative
A) mass media B) advertising agencies C) retailers D) wholesalers
A) the size of the population and available resources are equal B) food supply increases much faster than population growth C) both population and food supply increase at the same rate D) population increases much faster than food supply
A) $500m B) $30m C) $40m D) $60m
A) initial population plus number of births and net migration B) birth rate less death rate plus net migration C) the difference between birth rate and death rate D) the number of immigrants plus number of births
A) local firms entering into partnerships with foreign firms B) granting capital to firms at reasonable interest rates C) setting up industrial estates with modern amenities D) granting old firms tax exemptions
A) labour intensive method is mostly adopted B) abnormal profits are made C) wages in the sector is high D) they practice mechanized system of farming
A) indirect taxes B) corporate taxes C) direct taxes D) poll taxes
A) cheque B) cash C) bonds D) shares
A) supply of kerosene will remain unchanged B) supply of kerosene will rise C) cost of crude oil production has increased D) supply of kerosene will fall
A) selected essential goods B) luxury goods C) imported capital goods D) inferior goods
A) 8.5 B) 7 C) 8 D) 7.5
A) monetary policies B) foreign exchange policies C) fiscal policies D) trade restriction policies
A) the income per head is low B) there is low labour supply C) the population is decreasing D) the contribution of tertiary sector to national income is high
A) Inadequate supply of labour B) Language barriers C) Production of the same commodities D) Poor transportation and communication
A) stability B) efficiency C) growth D) development |