A) . The same as equilibrium supply B) Determined later by government C) Greater than equilibrium supply D) None of these E) Less than the equilibrium supply
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) control cannot work under military rule D) the population is too large
A) competitive demand B) Joint demand C) composite demand D) cross-elasticity of demand
A) wants B) scarcity C) capital D) resources
A) application of human effort B) application of fertilizer C) use of machines D) acts of nature
A) government department B) state planning committee. C) price mechanisms D) trade union
A) the market is also in equilibrium B) he maximizes his satisfaction from spending his income C) his market Supply is equal to his market demand D) he has consumed all he wants
A) joint supply B) market Supply C) competitive supply D) composite supply
A) composite supply B) competitive supply C) joint demand 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) . Helps in the utilization of scarce resources D) Enables individuals to satisfy all their wants
A) Jewelry B) Dress C) Handbag and Jewelry. 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 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) Sum the value and divide by the number of items. D) Arrange the data in ascending order and subtract each item from the mean.
A) Price to fall substantially. B) Price to increase substantially. C) Demand to fall substantially. D) Farmer's incomes to be more than doubled
A) Demand for the substitute of 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 commodity X will decrease
A) An improvement in innovation and technology. B) A reduction in the cost of raw materials. C) A favourable weather condition. D) An increase in the price of the commodity
A) Fairly elastic. B) Unitary elastic. C) Inelastic. D) Perfectly inelastic.
A) An increase in quantity supplied B) A decrease in quantity supplied C) A decrease in supply D) An increase in supply.
A) Fixing minimum prices B) Encouraging them to produce surplus output. C) Increasing taxes on inputs. D) Fixing maximum prices.
A) $15.00 B) $166.67 C) $150.03 D) $1.50
A) black market to come into operation B) surplus in the market C) rationing to be introduced D) shortage in the in market
A) competitive supply B) joint supply C) market Supply D) composite supply
A) 2.00 B) 0.50 C) 1.00 D) 1.50
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) unitory supply B) competitive supply C) composite supply D) market supply
A) government regulation is no longer needed B) the market will be cleared in the short-run C) excess demand occurs D) market surplus occurs
A) excess supply of labour B) increase in the export of goods C) low level of technology D) excessive demand for the product |