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