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