A) its issues are relevant for national development B) its subject matter studies human behaviour C) It adopts scientific method in making its analysis
A) transportation and entertainment B) the wages given up to attend the university C) tuition fee and books
A) fuel B) raw material C) machinery
A) the pattern of consumers spending B) directives of the government C) producers of consumer goods
A) ability to pay for the commodity B) desire for the commodity C) ability to pay for the commodity
A) textbook B) mobile phone C) labour
A) taxation B) the level of technology C) cost of production
A) offered for sale at a market price B) produced for the market C) from a single producer
A) time period B) nature of the product C) cost of production
A) increase in the income of consumers B) a fall in the cost of production C) increase in the price of a product
A) equal to his marginal utility B) less than his total utility C) equal to his total utility
A) price legislation B) inadequate information C) excess supply
A) price fall B) demand price C) market clearing price
A) total cost of production is increasing B) average cost of production decreases as output increases C) average revenue and marginal revenue decreases
A) can concentrate on all goods B) can save time and produce more C) become experts in all areas of production
A) total fixed cost B) marginal cost C) total revenue
A) total cost B) total revenue C) total profit
A) he determines either price or output B) he determines both price and output C) his average revenue cost is horizontal
A) statutory company B) private firm C) public company
A) public corporation B) partnership C) public limited company
A) labour force B) supply of labour C) demand of labour
A) decrease in cost of living B) increase in food supply C) decrease in standard of living
A) internal economies B) external economies C) extent of the division of labour
A) producers cooperative society B) consumers cooperative society C) sales agents
A) interest B) pensions C) rent
A) add net factor income from abroad B) measure output as a factor cost C) avoid multiple counting of output
A) deflation B) devaluation C) inflation
A) size of workers B) general price C) total level of savings
A) store of value B) stable in value C) medium of exchange
A) lender of last resort B) services the public debts C) accepts deposit from the public
A) capital gain tax B) specific tax C) excise duty
A) income inequality B) high productivity C) low life expectancy
A) early marriage B) importation of more consumers goods C) savings and investment
A) industries enjoying tax holidays B) newly established industries C) industries producing baby products
A) terms of trade B) absolute cost advantage C) comparative advantage
A) coal B) iron ore C) rice
A) land degradation B) re afforestation in rural communities C) pollution of water bodies
A) resources are mismanaged by leaders B) resources are not in adequate supply C) there is no proper planning
A) scarcity of resources B) unemployment of labour C) economic development
A) labour union B) entrepreneur C) management
A) demand falls as output rises B) prices must be lowered to sell more C) demand falls as output falls
A) inferior goods B) complementary goods C) normal goods
A) expectation of future price increase B) increases in price of the consumer C) change in taste of the consumer
A) joint supply B) complementary demand C) competitive demand
A) It varies with time B) It is fixed C) It rises with demand
A) fairly elastic supply B) infinitely elastic supply C) perfectly inelastic
A) there is no free entry and exit B) the demand is the same as the supply C) there is no government intervention
A) less than average variable cost B) greater than average variable cost C) equal to the average cost
A) seasonal unemployment B) residual unemployment C) structural unemployment
A) wages and salaries B) rent C) profits
A) a precautionary motive B) a speculative motive C) a transaction motive
A) commodity market B) money market C) capital market
A) inadequate supply of money B) the large number of the unemployed C) corruption and mismanagement
A) mining B) agriculture C) trading
A) adding to export group B) increasing local production C) reducing tarrifs
A) labour market B) money market C) capital market
A) fixed cost B) comparative cost C) variable cost
A) money supply increases B) borrowing is discouraged C) customers increase their borrowing
A) tertiary sector B) primary sector C) secondary sector
A) more private schools are established B) subsidy is provided on petroleum products C) more public goods are provided |