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