A. Education and training B. Provision of welfare service C. Race and colour of workforce D. Quality of other factor…
A. an excessive budget deficit B. a reduction in standard of living C. a wider market for goods and services…
A. grant credit to the wholesaler B. break bulk and sell products in small units C. reduce cost of distribution…
A. providing research facilities B. purchasing raw materials C. designing the product D. breaking the bulk Correct Answer: Option D…
A. variable cost B. fixed cost C. total cost D. marginal cost Correct Answer: Option B - fixed cost Explanation…
A. total fixed cost B. marginal cost C. average fixed cost D. average cost Correct Answer: Option D - average…
A. excessive demand for the product B. low level of technology C. excess supply of labour D. increase in the…
A. market surplus occurs B. the market will be cleared in the short-run C. excess demand occurs D. government regulation…
A. common agricultural policy is in place B. the size of the market is widened C. factors of production are…
A. joint supply B. composite supply C. competitive supply D. market supply Correct Answer: Option A - joint supply Explanation…