economics

The ranking of a consumer’s need in order of importance is termed?

A. An opportunity cost B. Economies of scale C. A scale of preference D. The making of a choice E.…

5 years ago

The movement of curve I to ll suggests?

A. an improvement in capital goods technology but not in consumer goods technology B. a movement from unemployment to full…

5 years ago

The current stage of the economy is depicted in curve 1. Point P suggests that the economy is?

A. reaching full employment but not full production B. attaining full production but not full employment C. under-capitalized D. attaining…

5 years ago

Which of the following is not a visible item in international trade payments?

A. payments for imported cars B. receipts from cocoa exports C. receipts from oil exports D. payments for steel imports…

5 years ago

International trade is different from internal trade because of the?

A. manufactured goods involved B. currency differentials C. homogeneity of products D. heterogeneity of products E. uniformity of prices Correct…

5 years ago

Tariff can be define as a compulsory levy on?

A. goods that are produced and consumed locally B. foreign exchange earnings C. imported but inferior goods D. foreigners working…

5 years ago

Term of trade is the?

A. ratio of capital movement to export movements B. ratio of import to short-term export C. difference between export and…

5 years ago

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

A. tax is borne entirely by the seller B. tax is shared equally between the buyer and the seller C.…

5 years ago

In a public company, entrepreneural function are performed by the?

A. workers B. shareholders C. creditors D. board of directors E. chairman Correct Answer: Option D - board of directors

5 years ago

If an economy grows at an annual rate of 6% of which 4% is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to the

A. amount of natural resources B. improvement in banking services C. size of the population D. quality of human resources…

5 years ago