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