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