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