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