A) 8 B) 10 C) 20 D) 5
A) 25 B) 30 C) 20 D) 40
A) range B) mean C) median D) mode
A) single B) grouped C) ungroup D) all of the above
A) the quantity of goods the consumer is prepared to buy B) a table showing the consumer demand in order of importance C) a table showing the relationship between price and quantity demanded of a commodity D) the market demand
A) quantity of goods demanded B) Interaction of demand and supply C) quantity of goods supplied D) supplier
A) Arithmetic mean B) Standard mean C) Deviation D) Standard deviation
A) Summation B) Some many C) So D) Sum plus
A) Mean B) Median C) Middle D) Mode
A) Median B) Mean C) Mode D) Arithmetic mean
A) 10 B) 39 C) 40 D) 20
A) Standard deviation B) Variance C) Range D) Mean deviation
A) Measure of deviation B) Measure of location C) Measure of variation D) Measure of range
A) Median B) Mode C) Range D) Mean
A) Demand and supply B) Interest C) Obey D) Satisfaction
A) Average utility B) Marginal utility C) Form utility D) Total utility
A) Place utility B) Form utility C) Time utility D) Average utility
A) Mean unit B) Marginal utility C) Marginal unit D) Mean utility
A) Perfectly elastic demand B) Income elasticity of demand C) Cross elasticity of demand D) Price elasticity of demand
A) Inelastic supply B) Supply perfect C) Elastic supply D) Zero supply
A) Greater than one elasticity B) Zero elasticity C) None D) Infinity elasticity
A) Unitary elasticity B) Infinite elasticity C) Zero elasticity D) Elastic elasticity
A) marginal utility B) total utility C) utility D) none of the above
A) mode and median B) mode and mean C) mean and percentile D) mean and median
A) total utility / quantity consumed B) none of the above C) Change in total utility / change in consumption D) TU = AUX Qty consumed
A) number of producers B) price of other commodities C) availability of close substitute D) government policy
A) inelastic B) infinitely elastic C) unitary elastic D) zero elastic
A) change in the color of the commodity B) the consumer’s taste C) a change in population size D) the consumer’s income
A) consumer aims at maximizing his utility B) consumer has budget constraint C) consumer is assumed irrational D) consumer taste remain constant
A) economic value of the commodity B) ability to pay for the commodity C) significance of the commodity D) desire for the commodity
A) fairly elastic demand B) fairly inelastic demand C) perfectly inelastic demand D) perfectly elastic demand
A) size of consumer’s income B) nature of the product C) cost of production D) time period
A) total utility B) time utility C) place utility D) form utility
A) decrease in price and quantity supplied B) shift in supply curve to the left only C) movement along the supply curve D) shift in the supply curve to the left or to the right
A) price B) time C) demand D) supply
A) downward sloping from right to left B) downward sloping from left to right C) parallel to the quantity axis D) upward sloping from right to left
A) shift from right to left B) remain in its former position C) shift from left to right and return to its original position D) shift from left to right
A) average cost increases B) average cost decreases and then increases C) total cost decrease D) marginal cost steadily increases
A) Total Fixed Cost (TFC) B) Average Variable Cost (AVC) C) Total Cost (TC) D) Variable Cost (VC)
A) Commodity market B) Monopoly market C) Common market D) Perfect market |