A) optimum production levels B) unattainable production levels C) attainable and efficient production levels D) attainable but inefficient production levels
A) Its reward is wages or salaries B) It is an active factor C) Its efficiency depends on its size D) It is highly mobile
A) Statutory economic B) Command economic C) Capitalist economic D) Socialist economic
A) Freedom of choice for consumers B) Private ownership of productive input C) Determination of Price by market forces D) Setting of production targets by public authorities
A) 150° B) 16.6° C) 300° D) 60°
A) Price of another product B) Income of the buyer C) Price of the product D) Demand for the product
A) One B) Greater then one C) Less then one D) Zero
A) 33.3% B) 30.0% C) 50.0% D) 66.7%
A) Size of the production change B) Incomes of consumers increase C) Rare commodities D) Normal goods are involved
A) Perfectly elastic B) fairly inelastic C) perfectly inelastic D) fairly elastic
A) consumer's choice B) diminishing returns to scale C) increasing returns to scale D) diminishing marginal utility
A) Consumers B) Small scale producers C) foreign companies. D) Government
A) firm to be de- stabilized B) average cost to rise C) marginal cost to fall D) marginal revenue to fall
A) increasing the size of its machines B) changing its organizational structure C) purchasing more equipment D) increasing the quantity of raw materials
A) $6 B) $8 C) $4 D) $10
A) more firms can enter the industry due to attractive prof its B) profits are not enough to repay traders' loans 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) commercialization C) indigenization D) nationalization
A) constimer co- operative society B) sole proprietorship C) partnership D) joint-stock company
A) Retailers B) Department store C) Supermarket D) Wholesalers
A) there are less monetary benefits B) holiday entitlement is cut C) welfare packages improve D) unemployment benefit rises
A) Stock exchange B) central banks C) merchant banks D) development banks
A) net migration. B) death rate C) fertility rate. D) immigration rate.
A) the presence of many extension workers B) the use of simple traditional implements C) laziness on the part of farmers D) the law of increasing returns to scale
A) Labour intensive method of farming will still be dominant B) Governments will no longer be involved in agriculture C) Less labour will be required on the farm D) More jobs will be available for farm labourers
A) musicians B) laundry women C) housekeepers D) subsistence farmers
A) relative scarcity B) store of value C) standard for deferred payment D) unit of account
A) amount of money spent on consumer goods B) money in circulation plus bank deposits C) money given out as loans to members of the public D) amount of currency printed annually by the government.
A) sales and purchases of capital equipment B) supply of and demand for long term loans for investment C) supply of and demand for short term loans only D) sales and purchases of treasury bills
A) the buyers alone B) both the buyers and the government C) both the sellers and the buyers D) the government alone
A) high rate of household savings B) low importation of consumer goods C) low per capita income D) high rate of investment
A) Coal B) Oil palm C) Cocoa D) Rubber
A) Complementary demand B) Market demand C) Competitive demand D) Derived demand
A) Shift to the right B) Remain unchanged C) Shift to the left D) Become vertical
A) Abnormal supply B) Complementary supply C) Joint supply D) Composite
A) Encourage rural urban migration B) Be about external economies of scale C) Be able to reap internal economies of scake D) Be able to even out development
A) make choice when resources are inadequate B) produce all the goods needed by everyone C) rank individuals' wants given the abundant resources D) satisfy every member of all societies
A) joint stock company B) partnership C) cooperative society D) private company
A) vertical B) downward sloping C) horizontal D) upward sloping
A) government protection and funding B) financial economies of scale C) external economies of scale D) technological economies of scale
A) frictional unemployment B) residual unemployment C) cyclical unemployment D) technological unemployment
A) the same amount of money buys lower quantity of goods B) there is a decrease in the demand for goods and services C) there are too many goods in circulation D) people prefer to lend than to borrow
A) electrification projects in rural areas B) the cost of building a school C) paying salaries of workers D) purchase of new vehicles
A) a fall in quantity demanded B) an increase in revenue C) a fall in demand D) a decrease in revenue
A) people who are cared for by their extended families B) number of children who depend on their parents for survival C) the children and aged who rely on the active population for support D) total active population who depend on government for survival
A) decrease B) remain constant C) increase D) turn negative
A) retailers B) advertising agencies C) wholesalers D) mass media
A) food supply increases much faster than population growth B) population increases much faster than food supply C) the size of the population and available resources are equal D) both population and food supply increase at the same rate
A) $30m B) $500m C) $60m D) $40m
A) the number of immigrants plus number of births B) the difference between birth rate and death rate C) initial population plus number of births and net migration D) birth rate less death rate plus net migration
A) granting old firms tax exemptions B) local firms entering into partnerships with foreign firms C) granting capital to firms at reasonable interest rates D) setting up industrial estates with modern amenities
A) labour intensive method is mostly adopted B) they practice mechanized system of farming C) wages in the sector is high D) abnormal profits are made
A) corporate taxes B) poll taxes C) indirect taxes D) direct taxes
A) cash B) cheque C) bonds D) shares
A) supply of kerosene will fall B) supply of kerosene will rise C) cost of crude oil production has increased D) supply of kerosene will remain unchanged
A) imported capital goods B) luxury goods C) selected essential goods D) inferior goods
A) 7.5 B) 8 C) 7 D) 8.5
A) trade restriction policies B) foreign exchange policies C) fiscal policies D) monetary policies
A) the population is decreasing B) there is low labour supply C) the contribution of tertiary sector to national income is high D) the income per head is low
A) Production of the same commodities B) Poor transportation and communication C) Inadequate supply of labour D) Language barriers
A) stability B) growth C) efficiency D) development |