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