A) attainable and efficient production levels B) optimum production levels C) unattainable production levels D) attainable but inefficient production levels
A) Its efficiency depends on its size B) It is an active factor C) It is highly mobile D) Its reward is wages or salaries
A) Command economic B) Statutory economic C) Capitalist economic D) Socialist economic
A) Setting of production targets by public authorities B) Private ownership of productive input C) Freedom of choice for consumers D) Determination of Price by market forces
A) 60° B) 150° C) 16.6° D) 300°
A) Price of another product B) Income of the buyer C) Price of the product D) Demand for the product
A) Zero B) One C) Less then one D) Greater then one
A) 50.0% B) 33.3% C) 30.0% D) 66.7%
A) Rare commodities B) Normal goods are involved C) Incomes of consumers increase D) Size of the production change
A) fairly inelastic B) perfectly inelastic C) Perfectly elastic D) fairly elastic
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) firm to be de- stabilized C) marginal revenue to fall D) marginal cost to fall
A) increasing the size of its machines B) increasing the quantity of raw materials C) changing its organizational structure D) purchasing more equipment
A) $6 B) $10 C) $4 D) $8
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) commercialization C) nationalization D) liberalization
A) partnership B) joint-stock company C) sole proprietorship D) constimer co- operative society
A) Department store B) Retailers C) Supermarket D) Wholesalers
A) welfare packages improve B) unemployment benefit rises C) there are less monetary benefits D) holiday entitlement is cut
A) development banks B) merchant banks C) Stock exchange D) central banks
A) immigration rate. B) death rate C) net migration. D) fertility rate.
A) the use of simple traditional implements B) laziness on the part of farmers C) the presence of many extension workers D) the law of increasing returns to scale
A) Governments will no longer be involved in agriculture B) Less labour will be required on the farm C) More jobs will be available for farm labourers D) Labour intensive method of farming will still be dominant
A) subsistence farmers B) housekeepers C) laundry women D) musicians
A) relative scarcity B) store of value C) unit of account D) standard for deferred payment
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) supply of and demand for short term loans only C) sales and purchases of treasury bills D) sales and purchases of capital equipment
A) both the sellers and the buyers B) the buyers alone C) both the buyers and the government D) the government alone
A) high rate of investment B) high rate of household savings C) low importation of consumer goods D) low per capita income
A) Oil palm B) Cocoa C) Coal D) Rubber
A) Complementary demand B) Competitive demand C) Derived demand D) Market demand
A) Shift to the left B) Become vertical C) Shift to the right D) Remain unchanged
A) Complementary supply B) Joint supply C) Composite D) Abnormal supply
A) Be about external economies of scale B) Encourage rural urban migration C) Be able to even out development D) Be able to reap internal economies of scake
A) make choice when resources are inadequate B) satisfy every member of all societies C) rank individuals' wants given the abundant resources D) produce all the goods needed by everyone
A) joint stock company B) cooperative society C) partnership D) private company
A) vertical B) upward sloping C) downward sloping D) horizontal
A) external economies of scale B) technological economies of scale C) government protection and funding D) financial economies of scale
A) cyclical unemployment B) frictional unemployment C) residual unemployment D) technological unemployment
A) there are too many goods in circulation B) there is a decrease in the demand for goods and services C) the same amount of money buys lower quantity of goods D) people prefer to lend than to borrow
A) purchase of new vehicles B) the cost of building a school C) paying salaries of workers D) electrification projects in rural areas
A) an increase in revenue B) a fall in quantity demanded C) a fall in demand D) a decrease in revenue
A) total active population who depend on government for survival B) number of children who depend on their parents 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) turn negative D) decrease
A) advertising agencies B) mass media C) wholesalers D) retailers
A) population increases much faster than food supply B) both population and food supply increase at the same rate C) food supply increases much faster than population growth D) the size of the population and available resources are equal
A) $40m B) $60m C) $500m D) $30m
A) initial population plus number of births and net migration B) the number of immigrants plus number of births C) birth rate less death rate plus net migration D) the difference between birth rate and death rate
A) local firms entering into partnerships with foreign firms B) setting up industrial estates with modern amenities C) granting capital to firms at reasonable interest rates 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) corporate taxes B) direct taxes C) poll taxes D) indirect taxes
A) bonds B) cash C) shares D) cheque
A) supply of kerosene will remain unchanged B) supply of kerosene will fall C) supply of kerosene will rise D) cost of crude oil production has increased
A) inferior goods B) imported capital goods C) luxury goods D) selected essential goods
A) 8 B) 7.5 C) 8.5 D) 7
A) fiscal policies B) monetary policies C) foreign exchange policies D) trade restriction 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) Poor transportation and communication B) Production of the same commodities C) Inadequate supply of labour D) Language barriers
A) efficiency B) development C) stability D) growth |