SS3 Mock Examinations
A) Scarcity B) Poverty C) Unemployment D) Inflation
A) Socialist B) Command C) Capitalist D) Mixed
A) Monopoly B) Perfect Competition C) Oligopoly D) Monopsony
A) To reduce unemployment B) To control inflation C) To promote economic growth D) All of the above
A) Price mechanism B) Price floor C) Price control D) Price Ceiling
A) taste and fashion B) price of the commodity C) income distribution D) the size of the population
A) 2.50 B) 0.65 C) 0.50 D) 2.00
A) fiscal policy B) monetary policy C) import policy D) export policy
A) consumer’s wants in order of priority B) Incomes of consumer in order of size C) utilities enjoyed by consumers D) opportunity cost of goods consumed
A) net factor income B) net indirect taxes C) net present value D) net national product
A) Is Horizontal B) Slopes upward C) Is Vertical D) Slopes downward
A) the amount paid to a worker on transfer B) unemployment allowance paid to the citizens C) money transferred to another country D) transfer of funds from one bank to another
A) Mining industry B) Service industry C) Processing industry D) Construction industry
A) he can equate his marginal and total utilities B) he can equate his demand with price C) his marginal utility is equal to zero D) he equates marginal utility and price
A) balance of trade account transaction B) capital account transaction C) current account transaction D) invisible balance account transaction
A) the size of the market is widened B) common agricultural policy is in place C) common currency is in use D) factors of production are free to move and be moved
A) attainable but inefficient production levels. B) optimum production levels. C) attainable and efficient production levels. D) unattainable production levels.
A) it’s efficiency depends on its size B) it’s reward is wages and salaries C) it is an active factor D) it is highly mobile
A) statutory corporations B) socialist economies C) capitalist economies D) command economies
A) private ownership of productive inputs. B) freedom of choice for consumers. C) setting of production targets by public authorities. D) determination of price by market forces.
A) 16.6° B) 60° C) 150° D) 300°
A) price of another product B) price of the product C) demand for the product D) income of the buyer
A) less than one B) one C) zero D) greater than one
A) 33.3% B) 80% C) 65% D) 30%
A) normal goods are involved B) size of the population changes C) rare commodities are involved D) income and consumers increase 
A) a change in taste in favour of milk B) a favorable weather condition C) a decrease in the price of milk D) an increase in income of consumers
A) derived demand B) competitive demand C) composite demand D) complementary demand
A) price only B) quantity supplied only C) price and supply D) supply only
A) perfectly inelastic B) fairly inelastic C) fairly elastic D) perfectly elastic
A) consumer’s choice B) diminishing returns to scale C) increasing return to scale D) diminishing marginal utility
A) government B) consumers C) foreign companies D) small scale producers
A) marginal cost to fall B) marginal revenue to fall C) firm to be de-stabilized D) average cost to rise
A) purchasing more equipments B) changing its organizational structure C) increasing the size of its machines D) increasing the quantity of raw materials
A) $4 B) $8 C) $10 D) $15
A) profits are not enough to repay traders' loans. B) more firms can enter the industry due to attractive prof its. C) marginal revenue is greater than marginal cost at all levels. D) new firms can not enter the market due to copyright laws.
A) liberalization B) nationalization C) commercialization D) indigenization
A) retailers B) departmental stores C) wholesalers D) supermarkets
A) there are less monetary benefits B) unemployment benefit rises C) welfare packages improve D) holiday entitlement is cut
A) death rate B) fertility rate C) immigration rate D) net migration
A) the law of increasing returns to scale B) the presence of many extension workers C) the use of simple traditional implements D) laziness on the part of farmers |
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