A) Determined later by government B) Less than the equilibrium supply C) . The same as equilibrium supply D) None of these E) Greater than equilibrium supply
A) control cannot work under military rule B) too many things are produced in the country C) the population is too large D) while it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled
A) cross-elasticity of demand B) Joint demand C) competitive demand D) composite demand
A) wants B) scarcity C) capital D) resources
A) application of fertilizer B) use of machines C) application of human effort D) acts of nature
A) state planning committee. B) trade union C) government department D) price mechanisms
A) his market Supply is equal to his market demand B) he has consumed all he wants C) the market is also in equilibrium D) he maximizes his satisfaction from spending his income
A) competitive supply B) composite supply C) market Supply D) joint supply
A) joint demand B) composite supply C) competitive supply D) joint supply
A) more is sold at the same price B) more is sold at different prices C) there is a movement along the supply curve D) there is a leftward shift of the supply curve
A) Restores equilibrium between producers and consumers B) . Helps in the utilization of scarce resources C) Helps producers to know what to produce D) Enables individuals to satisfy all their wants
A) Dress and Jewelry B) Jewelry C) Handbag and Jewelry. D) Dress
A) Management. B) Risk-bearing. C) Control. D) Planning
A) A central planning committee B) A government distribution agencies C) Retailers only. D) The operation of price mechanism.
A) Arrange the data in descending order and add each item to the least. B) . Arrange the data in either ascending or descending order and find what item divides the set in two equal parts. C) Arrange the data in ascending order and subtract each item from the mean. D) Sum the value and divide by the number of items.
A) Price to increase substantially. B) Demand to fall substantially. C) Farmer's incomes to be more than doubled D) Price to fall substantially.
A) Demand for commodity X will decrease B) Price of commodity X will increase C) Demand for the substitute of commodity X will decrease D) Supply of both commodity X and its substitute will increase.
A) An improvement in innovation and technology. B) A favourable weather condition. C) A reduction in the cost of raw materials. D) An increase in the price of the commodity
A) Fairly elastic. B) Unitary elastic. C) Perfectly inelastic. D) Inelastic.
A) A decrease in quantity supplied B) An increase in quantity supplied C) A decrease in supply D) An increase in supply.
A) Fixing maximum prices. B) Increasing taxes on inputs. C) Encouraging them to produce surplus output. D) Fixing minimum prices
A) $15.00 B) $1.50 C) $166.67 D) $150.03
A) black market to come into operation B) shortage in the in market C) surplus in the market D) rationing to be introduced
A) competitive supply B) market Supply C) joint supply D) composite supply
A) 0.50 B) 2.00 C) 1.50 D) 1.00
A) taste and fashion B) income distribution C) the size of the population D) price of the commodity
A) slopes upward B) slopes downward C) is horizontal D) Is vertical
A) competitive supply B) market supply C) unitory supply D) composite supply
A) the market will be cleared in the short-run B) excess demand occurs C) government regulation is no longer needed D) market surplus occurs
A) increase in the export of goods B) low level of technology C) excess supply of labour D) excessive demand for the product |