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