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