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) 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) too many things are produced in the country D) the population is too large
A) composite demand B) Joint demand C) cross-elasticity of demand D) competitive demand
A) resources B) capital C) wants D) scarcity
A) application of human effort B) acts of nature C) use of machines D) application of fertilizer
A) state planning committee. B) government department C) trade union D) price mechanisms
A) his market Supply is equal to his market demand B) the market is also in equilibrium C) he maximizes his satisfaction from spending his income D) he has consumed all he wants
A) composite supply B) joint supply C) competitive supply D) market 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 producers to know what to produce C) Enables individuals to satisfy all their wants D) . Helps in the utilization of scarce resources
A) Handbag and Jewelry. B) Jewelry C) Dress D) Dress and Jewelry
A) Risk-bearing. B) Control. C) Planning D) Management.
A) A government distribution agencies B) A central planning committee C) Retailers only. D) The operation of price mechanism.
A) Arrange the data in ascending order and subtract each item from the mean. B) Sum the value and divide by the number of items. C) Arrange the data in descending order and add each item to the least. D) . Arrange the data in either ascending or descending order and find what item divides the set in two equal parts.
A) Demand to fall substantially. B) Farmer's incomes to be more than doubled C) Price to increase substantially. D) Price to fall substantially.
A) Demand for the substitute of commodity X will decrease B) Price of commodity X will increase C) Supply of both commodity X and its substitute will increase. D) Demand for commodity X will decrease
A) A favourable weather condition. B) An increase in the price of the commodity C) A reduction in the cost of raw materials. D) An improvement in innovation and technology.
A) Inelastic. B) Unitary elastic. C) Perfectly inelastic. D) Fairly elastic.
A) A decrease in supply B) An increase in quantity supplied C) An increase in supply. D) A decrease in quantity supplied
A) Increasing taxes on inputs. B) Encouraging them to produce surplus output. C) Fixing minimum prices D) Fixing maximum prices.
A) $1.50 B) $166.67 C) $150.03 D) $15.00
A) shortage in the in market B) rationing to be introduced C) surplus in the market D) black market to come into operation
A) joint supply B) composite supply C) competitive supply D) market Supply
A) 1.00 B) 1.50 C) 2.00 D) 0.50
A) income distribution B) price of the commodity C) taste and fashion D) the size of the population
A) slopes downward B) Is vertical C) is horizontal D) slopes upward
A) market supply B) competitive supply C) unitory supply D) composite supply
A) market surplus occurs B) excess demand occurs C) the market will be cleared in the short-run D) government regulation is no longer needed
A) excessive demand for the product B) excess supply of labour C) increase in the export of goods D) low level of technology |