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