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