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