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