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