A) its subject matter studies human behaviour B) It adopts scientific method in making its analysis C) its issues are relevant for national development
A) the wages given up to attend the university B) transportation and entertainment C) tuition fee and books
A) raw material B) machinery C) fuel
A) the pattern of consumers spending B) directives of the government C) producers of consumer goods
A) desire for the commodity B) ability to pay for the commodity C) ability to pay for the commodity
A) textbook B) mobile phone C) labour
A) cost of production B) taxation C) the level of technology
A) offered for sale at a market price B) from a single producer C) produced for the market
A) cost of production B) nature of the product C) time period
A) a fall in the cost of production B) increase in the price of a product C) increase in the income of consumers
A) less than his total utility B) equal to his total utility C) equal to his marginal utility
A) inadequate information B) excess supply C) price legislation
A) demand price B) market clearing price C) price fall
A) average cost of production decreases as output increases B) total cost of production is increasing C) average revenue and marginal revenue decreases
A) can concentrate on all goods B) become experts in all areas of production C) can save time and produce more
A) total revenue B) total fixed cost C) marginal cost
A) total profit B) total cost C) total revenue
A) he determines both price and output B) his average revenue cost is horizontal C) he determines either price or output
A) statutory company B) private firm C) public company
A) public corporation B) partnership C) public limited company
A) labour force B) supply of labour C) demand of labour
A) decrease in cost of living B) increase in food supply C) decrease in standard of living
A) internal economies B) external economies C) extent of the division of labour
A) consumers cooperative society B) sales agents C) producers cooperative society
A) interest B) pensions C) rent
A) add net factor income from abroad B) avoid multiple counting of output C) measure output as a factor cost
A) deflation B) devaluation C) inflation
A) total level of savings B) general price C) size of workers
A) medium of exchange B) stable in value C) store of value
A) lender of last resort B) accepts deposit from the public C) services the public debts
A) capital gain tax B) excise duty C) specific tax
A) income inequality B) low life expectancy C) high productivity
A) importation of more consumers goods B) early marriage C) savings and investment
A) industries producing baby products B) newly established industries C) industries enjoying tax holidays
A) terms of trade B) absolute cost advantage C) comparative advantage
A) rice B) iron ore C) coal
A) land degradation B) re afforestation in rural communities C) pollution of water bodies
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) labour union B) management C) entrepreneur
A) demand falls as output falls B) demand falls as output rises C) prices must be lowered to sell more
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) complementary demand B) joint supply C) competitive demand
A) It rises with demand B) It is fixed C) It varies with time
A) fairly elastic supply B) perfectly inelastic C) infinitely elastic supply
A) there is no free entry and exit B) there is no government intervention C) the demand is the same as the supply
A) less than average variable cost B) equal to the average cost C) greater than average variable cost
A) structural unemployment B) residual unemployment C) seasonal unemployment
A) rent B) profits C) wages and salaries
A) a speculative motive B) a precautionary motive C) a transaction motive
A) capital market B) commodity market C) money market
A) the large number of the unemployed B) corruption and mismanagement C) inadequate supply of money
A) mining B) trading C) agriculture
A) increasing local production B) adding to export group C) reducing tarrifs
A) labour market B) money market C) capital market
A) fixed cost B) comparative cost C) variable cost
A) money supply increases B) borrowing is discouraged C) customers increase their borrowing
A) tertiary sector B) primary sector C) secondary sector
A) more private schools are established B) more public goods are provided C) subsidy is provided on petroleum products |