A. government control B. producer surplus C. consumer surplus D. consumer sovereignty Correct Answer: Option D D. consumer sovereignty
A. produce one main commodity B. produce only raw materials C. depend on the export of their raw materials D.…
A. agriculture employs the highest percentage of the labour force B. too much money is invested in agriculture C. farmers…
A. bilateral trade B. economic integration C. regional marketing board D. international competition Correct Answer: Option B B. economic integration
A. removal of barriers to the importation of goods and services B. increase rate of exportation of goods and services…
A. a favourable balance of trade exists B. an unfavourable balance of payment exists C. the net foreign trade is…
A. Alfred Marshal B. Adam Smith C. David Ricardo D. J. B. Say Correct Answer: Option C C. David Ricardo
A. licenses B. rents C. royalties D. taxes Correct Answer: Option D D. taxes
A. progressive B. regressive C. proportional D. ad-valorem Correct Answer: Option A A. progressive Explanation A progressive tax is a…
A. A tax should be impossible to evade B. A tax should be convenient to pay C. no tax should…