A) It adopts scientific method in making its analysis B) its issues are relevant for national development C) its subject matter studies human behaviour
A) tuition fee and books B) the wages given up to attend the university C) transportation and entertainment
A) fuel B) raw material C) machinery
A) the pattern of consumers spending B) directives of the government C) producers of consumer goods
A) ability to pay for the commodity B) ability to pay for the commodity C) desire for the commodity
A) mobile phone B) labour C) textbook
A) the level of technology B) cost of production C) taxation
A) produced for the market B) from a single producer C) offered for sale at a market price
A) cost of production B) nature of the product C) time period
A) increase in the income of consumers B) a fall in the cost of production C) increase in the price of a product
A) less than his total utility B) equal to his marginal utility C) equal to his total utility
A) price legislation B) excess supply C) inadequate information
A) market clearing price B) demand price C) price fall
A) average revenue and marginal revenue decreases B) total cost of production is increasing C) average cost of production decreases as output increases
A) can save time and produce more B) become experts in all areas of production C) can concentrate on all goods
A) total fixed cost B) marginal cost C) total revenue
A) total profit B) total revenue C) total cost
A) he determines both price and output B) his average revenue cost is horizontal C) he determines either price or output
A) public company B) private firm C) statutory company
A) partnership B) public corporation C) public limited company
A) labour force B) demand of labour C) supply of labour
A) decrease in cost of living B) decrease in standard of living C) increase in food supply
A) external economies B) extent of the division of labour C) internal economies
A) producers cooperative society B) sales agents C) consumers cooperative society
A) pensions B) interest C) rent
A) avoid multiple counting of output B) add net factor income from abroad C) measure output as a factor cost
A) deflation B) devaluation C) inflation
A) size of workers B) general price C) total level of savings
A) store of value B) medium of exchange C) stable in value
A) accepts deposit from the public B) services the public debts C) lender of last resort
A) capital gain tax B) specific tax C) excise duty
A) high productivity B) income inequality C) low life expectancy
A) early marriage B) savings and investment C) importation of more consumers goods
A) industries enjoying tax holidays B) newly established industries C) industries producing baby products
A) absolute cost advantage B) comparative advantage C) terms of trade
A) iron ore B) rice C) coal
A) pollution of water bodies B) land degradation C) re afforestation in rural communities
A) resources are mismanaged by leaders B) there is no proper planning C) resources are not in adequate supply
A) economic development B) scarcity of resources C) unemployment of labour
A) management B) labour union C) entrepreneur
A) demand falls as output rises B) prices must be lowered to sell more C) demand falls as output falls
A) complementary goods B) normal goods C) inferior goods
A) increases in price of the consumer B) expectation of future price increase C) change in taste of the consumer
A) complementary demand B) joint supply C) competitive demand
A) It varies with time B) It is fixed C) It rises with demand
A) perfectly inelastic B) infinitely elastic supply C) fairly elastic supply
A) there is no government intervention B) there is no free entry and exit C) the demand is the same as the supply
A) equal to the average cost B) less than average variable cost C) greater than average variable cost
A) seasonal unemployment B) structural unemployment C) residual unemployment
A) wages and salaries B) rent C) profits
A) a speculative motive B) a transaction motive C) a precautionary motive
A) commodity market B) capital market C) money market
A) the large number of the unemployed B) corruption and mismanagement C) inadequate supply of money
A) agriculture B) mining C) trading
A) adding to export group B) reducing tarrifs C) increasing local production
A) capital market B) money market C) labour market
A) comparative cost B) variable cost C) fixed cost
A) borrowing is discouraged B) money supply increases C) customers increase their borrowing
A) primary sector B) secondary sector C) tertiary sector
A) more private schools are established B) subsidy is provided on petroleum products C) more public goods are provided |