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