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